The government of Pakistan has reduced the petrol price by Rs6 per litre, according to the Ministry of Petroleum, offering relief to consumers amid ongoing inflationary pressure.
According to the official notification, the revised petrol price will come into effect from May 23 as part of the latest weekly fuel adjustment mechanism.
The diesel rate has also been reduced by Rs6.80 per litre, easing transportation and logistics costs across the country.
Officials confirmed that the new fuel pricing structure will remain valid for one week, after which fresh revisions will be announced in the next review cycle.
Under the latest notification, the petrol price has been set at Rs403.78 per litre, while the high-speed diesel rate has been fixed at Rs402.78 per litre.
In a previous revision on May 16, the government had announced a Rs5 per litre reduction in fuel costs, providing relief to consumers facing persistent economic pressure.
Under that adjustment, fuel rates were reduced significantly, bringing the petrol benchmark to Rs409.78 per litre, according to the official notification. Similarly, high-speed diesel was reduced by Rs5 per litre, taking the diesel rate to Rs409.58 per litre.
Officials stated that the reduction was made under the fortnightly pricing mechanism, which takes into account changes in international oil prices and exchange rate movements.
The government has been revising petroleum prices every week on Friday night following the now-paused US-Israeli war on Iran, which began on February 28. The war also led to a global fuel crunch caused by the closure of the Strait of Hormuz, through which one-fifth of the world’s supply of oil and gas used to pass in peace time.