Petrol price reduced to Rs 377.78 per litre; diesel retained at Rs380.78 for the next fortnight
People on their motorcycles wait their turn to get fuel at a gas station, hours before fuel prices are raised in Pakistan, amid the US-Israel conflict with Iran, in Karachi, Pakistan, April 30, 2026. Photo taken with a mobile phone. Reuters
The government on Friday once again slashed the price of petrol, cutting it by Rs4 per litre, while the rate of high-speed diesel remained unchanged for the next fortnight.
According to a release from the Petroleum Department of the Ministry of Energy, 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.
After the reduction, petrol will now be available at Rs 377.78 per litre.
Read: Govt cuts petrol, HSD by Rs22 in ‘Eid gift’ to people
This is the fourth reduction in fuel prices in a row in as many weeks. Last week, the government reduced petrol and diesel prices by Rs22 per liter and described the move as an “Eid gift” to the public.
The latest reductions come months after a sharp rise in oil prices triggered by regional tensions. The US 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 pushing up international oil prices.
As global oil prices rose, the government raised domestic fuel prices by more than 50 percent. Petroleum product rates were hiked twice during the first week of March, with the government saying the hikes outstripped the increase in international market prices. However, the strongest increase was seen in April.
In April, the government hiked petrol price by Rs 137 per litre, taking it to a record Rs 458.4 per litre. Days later, Prime Minister Shehbaz Sharif announced a reduction of Rs80 per liter in oil duty on petrol, bringing the price down to Rs378 per litre.
Last month, the government again hiked the prices of both petrol and high-speed diesel by Rs26.77 per liter despite no corresponding rise in international prices, after imposing an additional tax of nearly Rs27 per liter on fuel. A week later, prices of petroleum products were hiked again, pushing prices close to Rs 400 per litre. Subsequently, the Petroleum Division issued another notification earlier this month, raising prices by nearly Rs 15 per litre.
Since then, however, the government has reduced petrol prices in successive revisions, saying the cuts were aimed at providing relief to the public and easing their financial burden.
