ISLAMABAD: The federal government led by Prime Minister Shehbaz Sharif has announced a fresh reduction in fuel prices, offering short-term relief to consumers by lowering the prices of petrol and high-speed diesel (HSD) for the next seven days.
The price of petrol has been reduced by Rs6 per litre, while diesel by Rs6.80 per litre.
The reduction was announced through an official notification issued by the Petroleum Division, which stated that the revised prices would take effect after midnight under the latest weekly review mechanism adopted by the government.
Petrol remains the primary fuel for motorcycles, private vehicles and small transport, meaning any decrease directly affects millions of daily commuters across the country.
High-speed diesel, meanwhile, plays a crucial role in the transportation, agriculture and industrial sectors, making changes in its pricing particularly significant for the wider economy.
Pakistan’s fuel prices are typically determined after considering multiple factors, including international crude oil prices, exchange rate movements nd domestic taxation policies.
Volatility in global energy markets has continued to shape local petroleum pricing decisions, leading authorities to carry out more frequent revisions.
The government has increasingly relied on short-duration pricing periods to respond more quickly to fluctuations in global oil markets.
