ISLAMABAD: The federal government on Friday decided to keep petroleum prices unchanged following its weekly review.
According to a notification issued by the Petroleum Division, the price of petrol remains at Rs299.50 per litre, while high-speed diesel will continue to be sold at Rs311.47 per litre.
Last week, the government announced a major reduction in petroleum prices, slashing the price of petrol by Rs74 per litre and high-speed diesel by Rs67 per litre. The move came in response to a sharp decline in international crude oil prices and easing geopolitical tensions in the Middle East.
Prime Minister Shehbaz Sharif announced the relief package, saying the reductions were intended to pass on the benefits of lower global oil prices to consumers.
The price cut followed a peace agreement between the United States and Iran, which was facilitated through Pakistan’s diplomatic efforts. The subsequent reopening of the Strait of Hormuz, a vital global energy shipping route, helped ease concerns over oil supplies and contributed to a drop in international crude prices.
Petrol, widely used in motorcycles, rickshaws, and private vehicles, directly impacts the budgets of middle- and lower-income households.
Diesel, primarily consumed by heavy transport, agricultural machinery, and railways, has broader inflationary effects due to its role in moving goods across the country.
The government has been conducting weekly reviews of petroleum prices since the outbreak of the US-Israel-Iran conflict on February 28, amid heightened volatility in global oil markets and concerns over energy supply disruptions.
