Govt Announces Big Decrease in Petrol and Diesel Prices

The federal government has announced a reduction in petroleum product prices on the third day of Eid, the Prime Minister’s Office (PMO) issued a statement a short while ago.

The prices of petrol and high-speed diesel have been reduced by Rs. 22.22 per litre.

With the latest cut, petrol now stands at Rs. 381.56 per litre, down from Rs. 403.78, while diesel has been reduced from Rs. 402.78 to Rs. 380.56 per litre.

The PMO said that providing relief to the public remains one of its top priorities. The government had promised the nation that relief would be given as soon as fiscal space became available, and that this commitment has now been fulfilled.

It further stated that fuel prices have been reduced in line with that pledge, stressing that the government has consistently worked to ease the burden on citizens.

PMO said relief measures had also been provided in the previous week, when petroleum prices were reduced earlier as well.

Even during periods of global energy volatility, Pakistan managed to avoid severe fuel shortages, while timely interventions ensured steady availability of petroleum products across the country, the PMO added.

PMO added that during the global oil crisis, when international prices surged sharply, the government absorbed significant subsidy costs to prevent domestic fuel prices from rising further, thereby providing relief worth over Rs. 130 per litre at various points.

The latest reduction is expected to ease transportation costs and provide broader relief in inflationary pressures across essential goods and services, it added.