The government on Tuesday announced Rs8.47 per litre cut in the price of petrol on the eve of Independence Day.
Earlier, reports suggested the government was likely to announce cut in the prices of petrol and diesel tonight.
According to sources, a Rs11 per litre cut in the price of petrol and Rs7 per litre cut in the price of diesel is likely to be announced tonight. Sources say that a decision in this regard will be taken in consultation with Prime Minister Shehbaz Sharif.
Per the current fuel price adjustment mechanism, the Pakistani government reviews the prices of petroleum products every fortnight and new prices take effect on the first and 16th of every month.
