Petrol price reduced to Rs377.78 per litre; diesel retained at Rs380.78 for next fortnight
People on their motorbikes wait for their turn to get fuel at a gas station, hours before fuel prices rise in Pakistan amid the US-Israeli conflict with Iran, in Karachi, Pakistan, April 30, 2026. Photo taken with a cellphone. REUTERS
The government on Friday further reduced the price of petrol, reducing it by Rs 4 per litre, while leaving the rate of high-speed diesel unchanged for the next fortnight.
According to a notification issued by the Petroleum Division of the Ministry of Power, the price of motor spirit (petrol) has been reduced by Rs 4 per liter, while the price of high speed diesel has been maintained at Rs 380.78 per litre.
Following the reduction, petrol will now be available at Rs377.78 per litre.
Read: Govt cuts petrol, HSD by Rs 22 in ‘Eid gift’ for people
This is the fourth consecutive drop in fuel prices in as many weeks. Last week, the government reduced the prices of petrol and diesel by Rs 22 per liter, calling the move an “Eid gift” for the public.
The latest cuts come months after a sharp rise in oil prices triggered by regional tensions. The United States and Israel launched attacks on Iran in February, after which Tehran retaliated with strikes and closed the Strait of Hormuz, disrupting global oil supplies and sending international oil prices soaring.
As global oil prices soared, the government increased domestic fuel prices by more than 50%. Tariffs of petroleum products were increased twice in the first week of March, with the government saying the hikes exceeded the increase in international market prices. However, the strongest increase was observed in April.
In April, the government increased the price of petrol by Rs 137 per liter, taking it to a record high of Rs 458.4 per litre. Days later, Prime Minister Shehbaz Sharif announced a reduction of Rs 80 per liter in the oil tax on petrol, bringing its price down to Rs 378 per litre.
Last month, the government again increased prices of petrol and high-speed diesel by Rs 26.77 per liter despite no corresponding increase in international rates, after imposing an additional levy of nearly Rs 27 per liter on the fuel. A week later, prices of petroleum products increased again, pushing prices to nearly Rs 400 per litre. Subsequently, the Petroleum Division issued another notification earlier this month, increasing prices by nearly Rs 15 per litre.
Since then, however, the government has reduced gasoline prices in successive revisions, saying the reductions were aimed at providing relief to the population and easing their financial burden.
