Pakistan’s government on Friday announced a sharp reduction in petroleum prices, cutting petrol by Rs74 per litre and high-speed diesel by Rs67 per litre. The decision was taken to pass on the benefit of declining global oil prices to consumers. The move is expected to ease inflationary pressure on households and transport costs nationwide.
According to the Prime Minister’s Office, the new ex-depot price of petrol has been set at Rs299.78 per litre, while diesel will now cost Rs311.78 per litre. Prime Minister Shehbaz Sharif said the government utilised fiscal savings and austerity measures to provide relief to the public. He added that Rs129 billion had been directed toward cushioning the impact of rising fuel costs.
The prime minister stated that the government ensured stable fuel supply during the period of volatility and avoided shortages or disruptions. He said efforts would continue to maintain economic stability and reduce inflation further through targeted policy measures.
Officials linked the price cut to a decline in global oil markets, where Brent crude showed a weekly downward trend amid shifting geopolitical conditions. Market analysts noted that easing regional tensions contributed to softer crude prices internationally, creating space for domestic relief.
In the previous review, petrol prices had been reduced by Rs4 per litre and diesel by Rs2 per litre. The latest cut marks a significantly larger adjustment, reflecting both global price movements and domestic fiscal decisions aimed at easing consumer burden.