By Staff Reporter
ISLAMABAD: The government reduced the price of petrol by 6 rupees per liter and high-speed diesel by 6.80 rupees per liter on Friday, the second consecutive weekly cut as officials respond to swings in global oil markets linked to tensions in the Middle East.
The new prices, effective Saturday, are 403.78 rupees per liter for petrol and 402.78 rupees per liter for high-speed diesel, according to a notification issued by the Ministry of Energy’s Petroleum Division. The reductions come as Pakistan prepares for the Eid al-Adha holiday, when millions of people are expected to travel across the country.
The government has shifted from its traditional fortnightly price revisions to weekly adjustments to track volatility in international energy markets. The latest move follows a reduction of 5 rupees per liter for both fuels last week
.Petrol, used primarily in cars, motorcycles, rickshaws, and small vehicles, directly affects the budgets of middle- and lower-middle-class families. High-speed diesel powers trucks, buses, and large electricity generators, influencing freight costs and power supply.
The adjustments reflect the lingering impact of the now-paused war between the United States and Iran that began Feb. 28 with joint US-Israeli strikes on Iran. The conflict led to the closure of the Strait of Hormuz — the narrow waterway through which roughly one-fifth of the world’s oil and liquefied natural gas supplies normally flow — and triggered a global fuel crunch. Pakistan, which imports the bulk of its petroleum products and liquefied natural gas through the Middle East, remains highly exposed to disruptions in that region.
Earlier this month, the government raised petrol and diesel prices by about 15 rupees per liter, citing sharp volatility and fears of supply interruptions. The pattern of frequent changes began after the outbreak of hostilities in late February. On March 6, authorities increased both fuels by 55 rupees per liter and announced sweeping austerity measures three days later.
Prime Minister Shehbaz Sharif later said he had rejected recommendations to raise fuel prices on three separate occasions even as global prices climbed. On April 2, Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb announced steep increases — 43 percent for petrol and 55 percent for high-speed diesel — along with a targeted subsidy program for certain consumers. The following day, Sharif intervened, slashing the petroleum levy by 80 rupees per liter and bringing the price of petrol down to 378 rupees.
On April 10, the prime minister ordered further reductions of 135 rupees per liter for diesel and 12 rupees per liter for petrol. Higher fuel costs in Pakistan quickly feed into higher transportation fares, electricity rates, and food prices, adding pressure on households already strained by inflation and living expenses. The government’s decision to trim prices this week is expected to ease some of that burden, at least in the short term, for families planning holiday travel and for businesses reliant on road transport.
The Petroleum Division’s notification stated simply that “the Government of Pakistan has revised the ex-depot prices of the petroleum products for the next week starting from 23rd May, 2026.” No additional explanation was provided in the release.
Copyright © 2021 Independent Pakistan | All rights reserved
