KARACHI: The government of Pakistan has announced a significant reduction in fuel prices, offering relief to consumers amid ongoing economic pressures. Shehbaz Sharif confirmed that petrol prices have been reduced by Rs12 per litre, while high-speed diesel has seen a massive cut of Rs135 per litre.
Following the latest revision, petrol prices have decreased from Rs378 to Rs366 per litre, while diesel prices have dropped sharply to Rs385 per litre, effective from Saturday. The move comes as part of the government’s effort to pass on the benefit of falling global oil prices to the public.
The reduction in diesel prices is particularly significant, as it directly impacts transportation, agriculture, and industrial sectors. Experts believe that lower diesel rates could help ease inflationary pressures by reducing logistics and production costs across the country.
This announcement follows a period of sharp fuel price fluctuations. Just last week, the government had increased petrol prices by Rs137.24 per litre and diesel by Rs184.49 per litre, pushing petrol to Rs458 and diesel to Rs520.35 per litre. However, a subsequent relief measure brought petrol down by Rs80 per litre to Rs378.
The recent price cuts are linked to a decline in international oil markets, driven by easing geopolitical tensions and expectations surrounding US-Iran negotiations. Analysts suggest that stability in global oil supply chains has contributed to the downward trend in fuel prices.
Officials say the government will continue to monitor international market conditions and adjust domestic fuel prices accordingly. The aim is to balance fiscal requirements with public relief, especially at a time when inflation remains a key concern.
Consumers across Pakistan have welcomed the reduction, particularly the steep drop in diesel prices, which is expected to lower transportation fares and commodity prices in the coming weeks.
Economic experts caution that while the price cut provides short-term relief, sustained stability will depend on global oil trends and Pakistan’s broader economic policies.
