Web Desk: Pakistan has sharply reduced diesel prices while keeping petrol rates unchanged, as the government seeks to ease pressure on consumers following recent global energy volatility, Prime Minister Shehbaz Sharif said.
The latest revision cuts the price of high-speed diesel by Rs32, bringing it down to Rs353.43 per litre from Rs385.54. In contrast, petrol prices remain steady at Rs366 per litre.
Officials said the diesel price cut is aimed primarily at supporting farmers and the transport sector, both heavily reliant on the fuel. The move follows earlier reductions, including a cumulative Rs135 cut in diesel prices announced in recent weeks.
Meanwhile, the government maintained an earlier reduction of Rs12 in petrol prices, signaling a measured approach to fuel pricing amid fluctuating global conditions.
In addition, authorities confirmed that a subsidy program for motorcyclists will continue unchanged, despite adjustments in fuel rates.
Fuel prices had surged earlier this year following tensions linked to the US-Iran conflict February 2026, which disrupted supply routes and pushed global oil markets higher.
A key factor behind the spike was the temporary disruption in shipments through the Strait of Hormuz, a critical artery for global energy trade.
Consequently, petrol prices in Pakistan had climbed as high as Rs458 per litre before the government began rolling out successive reductions.
However, a subsequent ceasefire between Washington and Tehran helped stabilize global markets, allowing Islamabad to pass on relief to consumers.
Following the de-escalation, the government first reduced petrol prices by Rs80, bringing rates down significantly before implementing further cuts.
Sharif described the ceasefire as a major diplomatic achievement, crediting Pakistan’s role in facilitating the outcome and calling it a “historic success.”
Even so, officials indicated that future pricing decisions will depend on international oil trends and regional stability.
As global energy markets remain sensitive to geopolitical developments, the government signaled it would continue balancing fiscal constraints with public relief measures.
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