ISLAMABAD: Pakistan’s government on Friday slashed the prices of petrol and High Speed Diesel (HSD) by Rs5 per litre.
The price of petrol is now Rs409.78 per litre from earlier Rs414.78 per litre, according to a notification issued by the Petroleum Division.
The High-Speed Diesel is now available at Rs409.58 per litre from earlier Rs414.58 per litre.
The new prices are effective from May 16. The move came as a minor relief after a recent sharp increase in fuel prices.
This cut comes just a week after the government announced an increase of Rs15 per litre in the price of diesel and Rs14.92 per litre for petrol on May 9.
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.
Pakistan had already approved a one-month extension for the fuel subsidy previously granted to motorcyclists, public transport operators, and goods carriers across the country, with Prime Minister Shehbaz Sharif endorsing the decision.
The decision was taken to maintain financial relief for economically vulnerable groups during ongoing regional uncertainties.
The targeted relief measures were originally introduced earlier this month to protect bikers, farmers, and transporters from global oil price shocks triggered by the ongoing US-Israel military conflict with Iran.
