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Petrol Price in Pakistan Slashed by Rs8.47, diesel by Rs6.70 for August 2024 in Pakistan: Implications and Insights In a recent development, the Pakistani government has announced a significant reduction in petrol prices, a move that is set to have far-reaching effects on the country's economy and daily life. This article explores the reasons behind the price cut, its potential impact, and what it means for Pakistani consumers and businesses. Price Reduction Announcement On 14th August 2024, the Ministry of Finance announced a 8.47 rupees reduction in petrol prices across Pakistan. This adjustment comes as part of the government’s ongoing efforts to manage inflation and alleviate financial pressures on the average consumer. The new price, effective from 14 August 2024, is set at  Rs260.96  , down from the previous  Rs269.43 . Reasons for the Price Cut Several factors contributed to the decision to slash petrol prices: 1. Global Oil Prices: A key factor in the reduction is...