Government Announces Major Cut in Diesel Price, Petrol Becomes Slightly More Expensive

ISLAMABAD: The government has announced changes in the prices of petroleum products, increasing the price of petrol by Rs2.97 per litre while reducing the price of diesel by Rs32.63 per litre.

According to a notification issued by the Petroleum Division, the new price of petrol has been fixed at Rs337.51 per litre, while diesel will now cost Rs363.06 per litre.

The new prices will take effect from midnight tonight and have been fixed for one day.

Earlier, Petroleum Minister Ali Pervez Malik had announced that the government would reduce the price of diesel by around Rs30 to Rs32 per litre, with the reduction made possible through consultations with local refineries.

Speaking at a press conference alongside Information Minister Attaullah Tarar, Ali Pervez Malik said a significant portion of diesel consumed in Pakistan was refined domestically, enabling the government to provide substantial relief to consumers.

He added that international oil prices had risen due to the intensification of the war, creating pressure on petroleum prices.

Meanwhile, Prime Minister Muhammad Shehbaz Sharif directed Petroleum Minister Ali Pervez Malik to immediately travel to Karachi and take urgent measures to provide relief to the public regarding fuel prices.

The prime minister held a meeting with the petroleum minister, which was also attended by Information and Broadcasting Minister Attaullah Tarar, Minister for Economic Affairs Ahsan Khan Cheema, Climate Change Minister Dr Musadik Malik and National Assembly member Hamza Shehbaz.

The government said efforts were being made to provide maximum possible relief to consumers amid rising international fuel prices.