The federal government has announced a major reduction in petroleum prices, bringing relief to millions of Pakistanis. Prime Minister Shehbaz Sharif said the government is passing on the benefit of lower international oil prices to the public.
According to the announcement, the price of petrol has been reduced by Rs74 per litre, while high-speed diesel (HSD) has been cut by Rs67 per litre.
After the reduction, the new petrol price stands at Rs299.78 per litre, down from Rs373.78. The price of diesel has dropped from Rs378.78 to Rs311.78 per litre.
PM Shehbaz Sharif said the government understands the financial difficulties faced by the people. He thanked citizens for their patience during recent economic challenges.
The prime minister said the government had promised to provide relief whenever international oil prices declined. He added that the government is now fulfilling that promise.
Petrol is mainly used by motorcycles, cars, and rickshaws. Therefore, a reduction in petrol prices directly benefits middle-class and lower-income families.
Diesel is widely used in buses, trucks, power plants, and generators. Lower diesel prices can help reduce transportation and business costs across the country.
The government said the reduction became possible due to falling global oil prices and an improved regional economic situation. Officials also pointed to easing tensions in the Middle East and the reopening of important oil supply routes.
Shehbaz Sharif said the federal and provincial governments worked together to keep the economy stable. He added that any future reduction in international oil prices would be passed on to the public.
The PM also reaffirmed the government’s commitment to controlling inflation and providing maximum relief to citizens. He said public welfare remains the government’s top priority.
The latest petrol price reduction is one of the biggest cuts in recent years and is expected to provide significant relief to consumers and businesses across Pakistan.