LAHORE: The Lahore administration announced a 5 percent decrease in public and goods transport fares, ARY News reported.
The district administration took the decision aftermath of the federal government reduced petroleum products’ prices by Rs 10.
The new transport fares are in effect with immediate effect.
Meanwhile, the administration is carrying out strict action against transporters who fail to display fare lists or overcharge passengers.
The district administration imposed a collective fine of Rs 350,000 on transporters for overcharging. Special squads have been formed to ensure compliance with the new fares, and passengers who were overcharged are receiving refunds.
Earlier on September 15, the government slashed the prices of petroleum products, providing some relief to consumers across the country.
The price of petrol was cut by Rs 10 per litre, while diesel saw a reduction of Rs 13.6 per litre.
In addition, the price of light diesel has been lowered by Rs 12 per litre, and kerosene prices have been reduced by Rs 11 to Rs 15 per litre.
The government cut the petroleum price as international oil prices have significantly dropped by 8.5%, plummeting from USD 79.39 per barrel on August 30, 2024, to USD 72.67 per barrel. This development marks a notable shift in the global energy markets.
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