ISLAMABAD – The government has announced a significant reduction in petroleum prices, cutting petrol rates by Rs74 per litre and high-speed diesel by Rs67 per litre, according to the latest announcement.
The revised prices come as part of adjustments in global oil trends and domestic pricing calculations, offering relief to consumers facing high inflation.
Prime Minister Shehbaz Sharif said the recent reduction in fuel prices fulfils his commitment to provide relief to the public, as the government announced a major cut in petroleum rates.
Following the revision, the price of petrol has reached Rs299 per litre, while diesel prices have been adjusted between Rs311 and Rs378 per litre.
He said the decision reflects the government’s effort to ease inflation and pass on the benefit of changing global oil prices to the people.
Officials said the price cut is expected to lower transport costs and provide some easing in overall inflationary pressure across the country.
Business community welcomes fuel price cut
Pakistan’s business and industrial community has welcomed the government’s decision to reduce petrol and high-speed diesel prices, while urging authorities to pursue further reforms in the energy sector to bring production costs in line with those of regional competitors.
Business leaders, including FPCCI President Atif Ikram Sheikh, Markazi Tanzeem Tajiran Pakistan President Kashif Chaudhry, and All Pakistan Anjuman-e-Tajran and Trade Action Committee Islamabad President Ajmal Baloch, praised Prime Minister Shehbaz Sharif’s announcement to cut petrol prices by Rs74 per litre and high-speed diesel prices by Rs67 per litre.
They said the move would have positive and far-reaching effects not only for consumers but also for industry, trade, agriculture, transport, and the broader economy.
The business leaders termed the decision to pass on the benefits of lower global oil prices to the public and business sector as a prudent step. They said the significant reduction in fuel costs would lower transportation, freight, production, and business expenses, helping to ease inflationary pressures and stimulate economic activity across the country.
