The caretaker government has announced a decrease in the price of petroleum products for a fortnight, 24NewsHD TV channel reported on Saturday.
The government notified Rs8 per litre decrease in petrol price while the diesel price went down by Rs11 per litre.
The revised rate of petrol is Rs323.38 per litre and diesel 318.18 per litre.
The finance ministry stated the decision was made as the rupee gained value and oil prices dropped globally.
"In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products."
Last week, Federal Commerce and Industries Minister Gohar Ejaz hinted at a decrease in oil prices, stressing the depreciation of the US dollar would bring relief to the nation in the shape of a reduction of POL prices.
“The [local] currency is now stabilising and … I am hopeful that you will receive good news regarding petrol price on [October] 1,” he said, adding that he was also hopeful about energy prices coming down," the minister maintained.