Govt Slashes Petrol, Hikes Diesel Prices.

ISLAMABAD -- The federal government SunAday has slashed the price of petrol by Rs 3.05 per litre for the first fortnightly of August

However, the price of high speed diesel (HSD) has been increased by Rs 8.95/litre, while kerosene oil has been jacked up by Rs 4.62/litre for the fortnightly starting from August 1, till August 15. The government has also slightAly reduced the light diesel oil (LDO) prices by 12 paisa. 'The government is able to decrease the price of petrol by Rs 3.05 per litre. The price of diesel has however gone up by Rs 8.95. These prices are effective from midnight August 1. Pakistan Zindabad,' Federal Minister for Finance and Revenue Miftah Ismail said via a tweet. Meanwhile a statement issued by the Finance Division said that owing to the fluctuations in petroleum prices in the inAternational market and exAchange rate variation, the government has decided to revise the existing pricAes of petroleum products to pass on the impact to the consumers. After the adAjustments, the price of petArol will come down from Rs 230.24/litre to Rs...