ISLAMABAD: Pakistan’s government on Friday reduced the prices of petrol and diesel by Rs1.97 per litre, effective immediately for the week ending July 10.
Under the revised prices, petrol will now cost Rs297.53 per litre, down from Rs299.50, while diesel has been reduced to Rs309.50 per litre from Rs311.47, according to a notification issued by the Petroleum Division late on Friday.
Two weeks ago 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.
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.
