ISLAMABAD: Prime Minister Shehbaz Sharif has announced a major reduction in petrol price and diesel rate, providing significant relief to the public on the third day of Eid. The federal government approved a cut of Rs22 per litre in both petrol and diesel prices as part of its ongoing efforts to reduce the financial burden on citizens amid rising economic pressures.
According to an official statement issued by the Prime Minister’s Office, the revised petrol prices will take effect from midnight across Pakistan. Following the latest adjustment, the new petrol price has been fixed at Rs381.78 per litre, while the diesel rate will now stand at Rs380.78 per litre.
The prime minister said the decision was taken immediately after fiscal space became available, adding that public relief remains the government’s top priority. He stated that the reduction in petrol price would benefit millions of commuters, transporters, motorcycle riders, and rickshaw drivers who have been struggling with rising fuel costs in recent months.
The government also highlighted that this was the second consecutive reduction in fuel prices, as relief had already been provided in the previous week through another petrol price cut. Officials said the continued decline in petrol and diesel rates reflects the government’s commitment to supporting citizens despite challenging economic conditions.
The statement further noted that the federal government maintained a consistent relief policy during difficult times and ensured uninterrupted fuel supply across the country. Authorities claimed that timely fuel price decisions helped Pakistan avoid shortages and long queues at petrol stations, unlike several countries that faced severe fuel crises during global oil market disruptions.
Prime Minister Shehbaz Sharif also recalled that during the worst global oil crisis, the government introduced fuel subsidies to stabilise petrol prices and protect consumers from sudden increases. He added that the latest reduction in petrol and diesel prices would provide additional financial relief to households and businesses ahead of the upcoming budget.
The latest petrol price update is expected to positively impact transportation costs and inflation across Pakistan.
