Petrol Prices Cut: Government Makes Late-Night U-Turn

In a stunning reversal, the federal government backtracked on its earlier declaration of a substantial Rs. 15.4 per liter reduction in petrol prices, instead announcing a modest Rs. 4.74 per liter cut through a late-night notification from the finance ministry.

The prime minister’s office had earlier announced the larger price cut in a statement released around 10:30 pm on Friday, attributing the decision to the premier’s approval and citing government policies as the reason for the significant reduction in inflation.

However, in an unusual move, no corresponding notification was issued by the Ministry of Finance before midnight, sparking confusion.

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According to the eventual notification, the price of petrol was reduced by Rs. 4.74 per liter, while diesel prices were cut by Rs. 3.86 per liter, resulting in new prices of Rs. 268.36 and Rs. 270.22 per liter, respectively.

Neither the Prime Minister’s Office nor the finance ministry offered any explanation for the earlier announcement of a larger price reduction, leaving thousands of citizens facing a disappointing reality check.