ISLAMABAD: The government has announced a significant reduction in diesel prices across Pakistan, offering much-needed relief to consumers amid ongoing economic pressure. According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif approved a decrease of Rs32.12 per litre in the price of high-speed diesel.
Following the reduction, the new diesel price has dropped from Rs385.54 to Rs353.43 per litre. The move is part of the government’s broader effort to ease the financial burden on the public after weeks of fluctuating fuel costs driven by global market instability.
Officials stated that the impact of this reduction will soon be reflected in transportation and logistics costs, which heavily rely on diesel. High-speed diesel is widely used in heavy transport vehicles, agricultural machinery, and large-scale generators, making it a critical component of the country’s economy.
However, the government did not announce any change in petrol prices, which currently stand at Rs366.58 per litre. Petrol is primarily used by private vehicles, motorcycles, and rickshaws, directly affecting middle and lower-income households.
Fuel prices in Pakistan have seen sharp volatility in recent weeks due to the global oil crisis triggered by geopolitical tensions, including the US-Israel conflict involving Iran. Earlier in March, the government had increased fuel prices by Rs55 per litre, followed by additional hikes in early April, when petrol and diesel prices surged by 43 percent and 55 percent respectively.
In response to public backlash, the government introduced relief measures, including a reduction in petroleum levy and targeted fuel subsidies. Just last week, diesel prices were cut by Rs135 per litre, while petrol prices saw a smaller decrease of Rs12 per litre.
Analysts believe that the latest diesel price reduction could help stabilize inflation, especially in the transport and food sectors. However, uncertainty in global oil prices continues to pose a challenge for sustained relief.
