The government on Sunday decreased the price of petrol by Rs3.05 per litre, bringing the price of the fuel to Rs227.19 per litre.
According to a statement issued by the Finance Division, the price of high-speed diesel has been jacked up by Rs8.95 per litre, while that of kerosene oil Rs4.62 per litre.
The prices have reportedly been changed for a period of 15 days.
The prices were previously revised on July 14 following a drop in the prices of oil globally.
Also read: POL products prices may be raised by Rs28.44
Announcing the decision to reduce the prices, Prime Minister Shahbaz Sharif had said that it was aimed at passing the benefit to the consumers.
In his televised address, the premier had also pledged to continue passing on the impact of reduction in global oil prices to the people in the coming months.
Also read: Petroleum levy set to rise on IMF demand
Holding the previous Pakistan Tehreek-e-Insaf (PTI) government responsible for all the economic woes, PM Shehbaz had expressed the determination of the coalition government to put the country on the path to economic development and prosperity.
The government earlier said that the prices of petroleum products have been fluctuating in the international market, while rupee-dollar parity is also impacting end consumers.