ISLAMABAD: Thanks to continuing decline in the international market, the government on Friday reduced the prices of petrol and high speed diesel (HSD) by Rs10.20 and Rs2.33 per litre, respectively, with immediate effect for the next fortnight ending June 30.

Because of Eidul Azha holidays ahead, the government announced the price cuts a day earlier instead of June 15, said a statement issued by the PM`s staff.

In a late-night announcement, the finance ministry said the ex-depot price of petrol had been slashed by Rs10.20 and that of HSD by Rs2.33 per litre.

The petrol price was reduced to Rs258.16 per litrefor the nextfortnight from Rs268.36, down by 3.8pc. In the retail market, petrol would, however, be available at around Rs260 per litre. On the other hand, the price of HSD was reduced by Rs2.33 per litre (0.86pc) to Rs267.89 from Rs270.22.

The government did not announce the ex-depot prices of kerosene and light diesel oil, but they were also down by Rs2 and Rs4 per litre, respectively.-Khaleeg Kiani