PESHAWAR: The federal government has announced reduction in petroleum prices to provide relief to masses.

According to a notification issued by the government on Saturday, the price of diesel has been reduced by Rs6.37 per litre, petrol by Rs4.26 per litre, kerosene by Rs3.74 and light diesel by Rs5.54 per litre.

The reduction in the prices of petroleum products will be effective from midnight Saturday, the notification read. Acceding to new price mechanism, petrol will be available for Rs95.24 per litre, high speed diesel Rs112.94 per litre, light speed diesel Rs75.37 per litre and kerosene Rs83.96 per litre. The new prices are applicable from today (Sunday).

The caretaker government on July 1 had increased the price of petrol by Rs7.54 to Rs99.50 per litre, diesel by Rs14 to Rs119.3 and kerosene by Rs3.36 to Rs87.7, which drew strong criticism from all the political parties and general public. The Supreme Court of Pakistan had taken a suo motu notice of the matter and asked the stakeholders to devise a price mechanism to give relief to people.