Prime Minister Shehbaz Sharif announced reductions in fuel prices, confirming diesel will decrease by Rs135 per litre and petrol will drop by Rs12 per litre.
In a televised address, the Prime Minister stated diesel will be available at Rs385 per litre and petrol at Rs366 per litre from Saturday midnight.
He added that targeted subsidy initiatives introduced after the Middle East fuel crisis will continue, ensuring relief measures remain in place alongside the revised fuel prices.
Earlier, the Ministry of Energy confirmed that petrol prices rose 46.7 percent since March, increasing by Rs 120.24 per litre during the ongoing Middle East conflict.
Official documents from the ministry reported that petrol initially cost Rs 258.17 per litre on March 1, rising to Rs 378.41 per litre by April 4.
Diesel prices before March were Rs 275.70 per litre, with a cumulative increase of Rs 244.65, reaching Rs 520.35 per litre during the conflict.
The ministry stated that diesel prices surged 88.74 percent overall, marking the sharpest recorded increase in Pakistan’s fuel market during this conflict period.
Earlier this week, reports indicated that the government was considering price cuts in response to a sharp decline in international oil markets.
Prime Minister Shehbaz Sharif directed the finance and petroleum ministries to ensure citizens benefit from falling global prices, initiating urgent consultations on domestic fuel adjustments.
