The federal government has announced a fresh reduction in fuel prices, bringing some relief to consumers struggling with rising living costs. Under the latest revision, the petrol price in Pakistan has been reduced by Rs5 per litre.
According to the official notification, the new petrol price now stands at Rs 409.78 per litre. The price of high-speed diesel has also dropped by Rs5, bringing the revised diesel rate to Rs409.58 per litre across the country.
Officials said the adjustment was made under the government’s fortnightly fuel price review mechanism. The pricing formula takes global oil market trends and currency exchange movements into account before finalising local fuel rates.
The latest cut comes just a week after petroleum prices saw a major increase. On May 9, petrol prices rose by Rs14.92 per litre and diesel by Rs15 per litre due to higher global oil prices and regional tensions.
The new reduction is expected to provide limited relief to transporters, businesses, and daily commuters. Public transport fares and delivery charges had increased sharply following the earlier fuel hike.
Economists say lower fuel prices could slow inflation if global crude oil prices stay stable in the coming weeks. However, they also warned that international market uncertainty may continue to affect petroleum pricing in Pakistan.
Consumers are watching future fuel price reviews as petrol and diesel stay near record highs despite the cut.
