Islamabad, Pakistan – Web Desk: Petrol cut by Rs74 and diesel by Rs67 after global oil drop
Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum product prices, passing on the benefit of falling global oil rates to consumers across Pakistan.
Under the new adjustment, the price of petrol has been reduced by Rs74 per litre, bringing it down from Rs373 to Rs299. Similarly, diesel prices have been cut by Rs67 per litre, reducing the rate from Rs378 to Rs311.
The prime minister said the government made every possible effort to provide relief to the public despite difficult economic conditions. He noted that citizens showed resilience during challenging times, and the government remains committed to easing their financial burden.
Shehbaz Sharif added that the government managed to save Rs129 billion through austerity measures and adjustments in the development budget, which helped create fiscal space for reducing fuel prices.
Authorities expect the reduction in petroleum prices to lower transportation costs and help ease inflationary pressure across essential goods and services.
The announcement comes amid a decline in international crude oil prices, which has provided fiscal room for adjustments in domestic fuel rates.
