LAHORE – A sigh of relief for inflation-weary Pakistanis as global oil prices show signs of easing, and petrol, diesel prices in Pakistan are set to drop to around Rs370 per litre from June 6.
After months of sharp ups and downs in fuel rates that pushed budgets to the limit, this latest reduction brings fourth price cut for commuters, transporters, and ordinary citizens who have been closely watching every change at the fuel pumps.
Pakistanis will see petrol prices drop by Rs10 per litre and high-speed diesel (HSD) slashed by Rs30 per litre, official sources said. The revised rates, approved by Prime Minister Shehbaz Sharif under the weekly pricing mechanism linked to global crude oil trends, are expected to take effect nationwide once a formal notification is issued by the Petroleum Division.
With revised changes, Petrol is expected to drop from Rs381.78 to Rs371.78 per litre while diesel plunges from Rs380.78 to Rs350.78 per litre.
At the start of year 2026, petrol was relatively manageable at Rs253.17 per litre in January. That calm, however, quickly collapsed as prices began climbing sharply in mid-February, accelerating through March and reaching around Rs321 per litre by early March amid global pressure and geopolitical tensions.
On April 3, petrol prices jumped to all-time high of Rs458.40 per litre, the highest level ever recorded in Pakistan, sending panic through transporters, businesses, and households already battling inflation. Diesel was hit even harder, surging beyond Rs520 per litre at its peak, triggering a severe spike in logistics and goods movement costs across the country.
Although prices briefly fluctuated downward in May, stability remained elusive. At one point, petrol once again crossed Rs414 per litre before easing toward the end of the month, eventually settling near Rs381.78 per litre by May 29.
Despite periodic relief measures and corrections, 2026 has so far been defined by extreme instability in fuel pricing. The journey from Rs253.17 in January to Rs458.40 in April represents one of the steepest and most volatile fuel cycles in Pakistan’s recent history.
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