ISLAMABAD    -    The federal government Sun­day has slashed the price of petrol by Rs 3.05 per litre for the first fortnightly of August

 However, the price of high speed diesel (HSD) has been increased by Rs 8.95/litre, while kerosene oil has been jacked up by Rs 4.62/litre for the fortnightly starting from August 1, till August 15. The government has also slight­ly reduced the light diesel oil (LDO) prices by 12 paisa. “The government is able to decrease the price of petrol by Rs 3.05 per litre. The price of diesel has however gone up by Rs 8.95. These prices are effective from midnight August 1. Pakistan Zindabad,” Federal Minister for Finance and Revenue Miftah Ismail said via a tweet. Meanwhile a statement issued by the Finance Division said that owing to the fluctuations in petroleum prices in the in­ternational market and ex­change rate variation, the government has decided to revise the existing pric­es of petroleum products to pass on the impact to the consumers. After the ad­justments, the price of pet­rol will come down from Rs 230.24/litre to Rs 227.19/litre, and LDO from Rs 191.44/litre to Rs 191.32/litre. After the increase, the price of HSD will go up from Rs 236/ litre to Rs 244.95/litre, kerosene oil (SKO) from Rs 196.45/litre to Rs 201.07/litre. It is worth to mention here that for the last 17 days of July, the pric­es of petrol were reduced by Rs 18.50/litre, while high speed diesel has been slashed by Rs 40.54/litre. Similarly the prices of kero­sene oil (SKO) had also been decreased by Rs33.81/litre and light diesel oil (LDO) by Rs 34.71/litre. After assum­ing power the coalition gov­ernment had increased the prices of petroleum prod­ucts on the demand of the IMF and took it to highest level of the country’s his­tory. Prior to reduction last month, petrol reached to Rs 248.74, HSD Rs 276.54/ li­tre, SKO Rs 230.26/litre and LDO to Rs 226.15/litre. The new prices will be effective from August 1 till August 15.