Following the decline in global oil prices, Prime Minister Shehbaz Sharif Tuesday announced a big cut in the petroleum prices in Pakistan, the 24NewsHD TV channel reported on Tuesday.

The price of petrol has been slashed by Rs8.47 per litre and the price of diesel has seen a reduction of Rs6.7 per litre.

After the decrease, the price of petrol has decreased from Rs269.43 per litre to Rs260.96 per litre.

Similarly, the price of high-speed diesel has decreased from Rs272.77 per litre to Rs266.07 per litre.

On July 31, amid public anger over inflation and electricity bills, the government reduced the price of diesel by Rs10.86 per litre and the price of petrol by Rs6.17 per litre.

The price of kerosene was also reduced by Rs 6.32 per litre, while the price of light-speed diesel has also been reduced by Rs5.72 per litre.