Pakistan Govt Lowers Petrol and Diesel Prices Again

Islamabad: The federal government has announced another major relief for the public by reducing the prices of petrol and high-speed diesel. According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs6 per litre, while high-speed diesel has been cut by Rs6.80 per litre.

Following the reduction, the new price of petrol stands at Rs403.78 per litre, while high-speed diesel will now be available at Rs402.78 per litre. The Petroleum Division stated that the revised prices came into effect from May 23.

This marks the second consecutive week in which the government has lowered petroleum prices. Last week, petrol and diesel prices were also reduced by Rs5 per litre, a move widely welcomed by the public.

Experts say the reduction in petrol prices is expected to provide direct relief to middle- and lower-middle-class citizens, as petrol is mainly used in motorcycles, rickshaws, private vehicles, and small transport. Meanwhile, the decrease in diesel prices may help reduce transportation and delivery costs, potentially impacting the prices of essential goods.

The government has been reviewing petroleum prices weekly in response to fluctuations in the global oil market. In recent months, tensions in the Middle East and the global fuel crisis have placed significant pressure on international energy markets, affecting many countries, including Pakistan.

It is worth mentioning that earlier this year, the government sharply increased fuel prices due to rising global oil prices, but later introduced several reductions to provide relief to the public.

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