Consumers get relief as govt cuts petrol, diesel prices by Rs22 per litre

ISLAMABAD: The federal government on Friday announced a reduction of Rs22 per litre in the prices of both petrol and high-speed diesel (HSD), offering major relief to consumers on the third day of Eidul Adha amid persistent inflationary pressure.

According to a statement issued by the Prime Minister’s Office on Friday, the decision was taken to transfer the benefit of easing petroleum prices to the public. The statement said Prime Minister Shehbaz Sharif had promised the nation that whenever financial space became available, relief would be passed on to consumers, adding that the commitment had now been fulfilled.

Following the revision, the price of petrol (Motor Spirit) has been fixed at Rs381.78 per litre, while high-speed diesel has been set at Rs380.78 per litre. The new prices will come into effect at 12:00 midnight, providing immediate relief to consumers across the country.

According to the Prime Minister’s Office, Prime Minister Shehbaz Sharif had earlier assured the public that relief would be passed on as soon as fiscal space became available. The statement said the government has fully honoured this commitment by transferring the benefit of reduced international prices to consumers.

The Prime Minister reiterated that providing relief to the public remains a top priority of his government. He noted that relief had also been provided in the previous week through reductions in petroleum prices.

The statement further said the government continued to extend relief to the public even under challenging economic conditions, including support for transporters, motorcyclists, and rickshaw drivers through fuel-related measures.

It added that during periods of global oil volatility and supply pressure, Pakistan avoided severe shortages seen in other countries due to timely government interventions. It also highlighted that despite international price hikes, the government absorbed significant cost pressures through subsidies to stabilize domestic fuel prices.

The sharp reduction in petroleum prices is expected to provide substantial relief to transporters, commuters, businesses and households already burdened by high inflation and elevated transportation costs.

Petrol is mainly consumed by motorcycles, rickshaws and private vehicles, making any reduction directly beneficial for middle and lower-income segments. Meanwhile, HSD is widely used in heavy transport, agriculture and industrial sectors, meaning lower diesel prices could also help ease inflationary pressure on essential commodities across the country.

The latest cut in fuel prices comes during the third day of Eidul Adha, when citizens are still engaged in Eid-related travel, and may influence transportation fares and logistics costs downward.