The federal government has announced a massive reduction in kerosene prices, providing fresh relief to consumers after recently lowering petrol and diesel rates.

Under the latest revision, the price of kerosene has been reduced by Rs 41.44 per litre. Following the cut, the new kerosene price stands at Rs 272 per litre, down from the previous rate of Rs 313.44 per litre.

The significant decrease is expected to benefit households and businesses that rely on kerosene for cooking, heating and other daily needs, particularly in remote and rural areas where alternative energy sources are limited.

Alongside the reduction in kerosene prices, the government has also adjusted the petroleum levy on major fuel products. According to official details, the petroleum levy on petrol has been reduced by Rs 10.83 per litre, while the levy on high-speed diesel has been increased by Rs 10.93 per litre.

The latest fuel price adjustments come at a time when consumers have been seeking relief from the impact of inflation and rising living costs. Economists believe lower fuel prices can help reduce transportation expenses and ease pressure on household budgets, although the overall impact will depend on broader economic conditions.

Prime Minister Shehbaz Sharif said that providing relief to the public remains one of the government's top priorities. He stated that efforts are being made to ensure that the benefits of changing global oil prices are passed on to consumers whenever possible.

The announcement has been welcomed by many consumers, who hope that lower fuel and energy costs will contribute to a reduction in the prices of essential goods and services in the coming weeks.