ISLAMABAD: Pakistan’s government on Friday slashed the prices of petrol and High-Speed Diesel (HSD) by Rs4 and Rs2 per litre, respectively, for the next week.
According to a notification from the Petroleum Division, the revised fuel prices will take effect from June 13.
Following the reduction, the price of petrol has been reduced to Rs373.78 from Rs377.78, while the High-Speed Diesel price came down to Rs378.78 from Rs380.78.
A week ago, the government had reduced the petrol prices by Rs4 per litre while kept the diesel prices unchanged.
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.
The conflict also sparked a global energy supply crunch following the closure of the Strait of Hormuz, a strategic maritime chokepoint through which nearly 20 percent of the world’s oil and gas shipments normally pass.
