The federal government has announced a reduction in petroleum prices, bringing down both petrol and High-Speed Diesel (HSD) by Rs22 per litre for the coming week.
According to a notification issued by the Ministry of Energy’s Petroleum Division on Friday, the revised ex-depot price of high-speed diesel has been fixed at Rs380.78, down from Rs402.78. The price of motor spirit (petrol) now stands at Rs381.78, reduced from Rs403.78.
The cut has been presented as an Eidul Azha gift to the public, announced on the third day of the festival.
Prime Minister (PM) Shehbaz Sharif had earlier committed to passing on relief to consumers as soon as fiscal space allowed it. Officials stated that this commitment has now been fulfilled and pointed to a similar reduction carried out the previous week as evidence of the government’s continued focus on easing the burden on consumers.
Officials further noted that during the recent global oil price surge, the government absorbed a significant portion of the increase rather than passing it on to domestic consumers, providing subsidies exceeding Rs130 per litre over time since March. They added that while several countries in the region faced fuel shortages and long queues at petrol stations during this period, Pakistan maintained uninterrupted supply through timely policy decisions.
The government has been revising petroleum prices every week on Friday night following the now-paused US-Israeli war on Iran, which began on February 28.
