Pakistan Cuts Fuel Prices Amid Global Oil Concerns
Petrol and diesel get Rs 6 cheaper in THIS place, government announces major price cut; check new rates here
Image: India
The Pakistani government, led by Prime Minister Shehbaz Sharif, has announced a reduction in petrol and diesel prices by Rs 6 and Rs 6.80 per litre, respectively, effective May 23. This decision follows previous increases due to the Iran-US conflict, marking the second consecutive week of price cuts amid fluctuating global oil prices.
- 01Petrol prices in Pakistan are now Rs 403.78 per litre, while High-Speed Diesel (HSD) is priced at Rs 402.78 per litre.
- 02The price cuts come after a series of increases in March and April, where petrol prices rose by Rs 55 and Rs 43 percent, respectively.
- 03The government has been reviewing fuel prices weekly since the onset of the Iran-Israel-US conflict in February.
- 04The recent cuts follow a Rs 5 reduction in petrol and diesel prices the previous week.
- 05In contrast, India has seen minor increases in fuel prices, with petrol rising by 87 paise and diesel by 91 paise recently.
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In a significant move, the Pakistani government has reduced petrol and diesel prices by Rs 6 and Rs 6.80 per litre, respectively, effective May 23. The new prices are Rs 403.78 for petrol and Rs 402.78 for High-Speed Diesel (HSD). This decision comes amid ongoing pressures from the Iran-US conflict and follows a series of price hikes earlier this year, where petrol prices surged by Rs 55 on March 6 and 43 percent on April 2. The government has been adjusting fuel prices weekly since the conflict began in February, reflecting the volatility in global oil markets. Notably, this is the second consecutive week of price cuts after a Rs 5 reduction the previous week. In contrast, India has experienced slight increases in fuel prices, with petrol rising by 87 paise and diesel by 91 paise recently, highlighting the differing trends in fuel pricing in the region.
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The reduction in fuel prices will ease the financial burden on middle-class households in Pakistan, as petrol is widely used in private vehicles and small transport.
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