Pakistan Cuts Petrol, Diesel Prices by Rs1.97 Per Litre Despite Global Oil Price Drop

ISLAMABAD:The government of Pakistan has announced a reduction in petroleum prices, lowering both petrol and high-speed diesel by **Rs1.97 per litre**, effective from midnight.

According to a notification issued by the Petroleum Division, the price of petrol has been reduced to **Rs297.53 per litre**, while high-speed diesel will now cost **Rs309.50 per litre**.

The price adjustment comes despite a more significant decline in international crude oil prices, with the government opting for only a modest reduction for consumers.

Meanwhile, global oil prices continued to fall following the conclusion of indirect talks between the United States and Iran in Doha, Qatar. Qatari officials described the negotiations as a “positive development,” easing investor concerns over potential supply disruptions.

According to international media reports, **Brent crude** fell by **73 cents (1.02%)** to **$70.84 per barrel**, while **U.S. West Texas Intermediate (WTI)** crude declined by **83 cents (1.21%)** to **$67.75 per barrel**. Both benchmark crude prices had already dropped by more than one percent in the previous trading session, reaching their lowest levels in nearly four months.

Sources said U.S. and Iranian negotiators held two days of indirect discussions in Doha, focusing on key issues including maritime security in the Strait of Hormuz, the safety of global shipping routes, and the release of Iran’s frozen financial assets.

The **Strait of Hormuz** is one of the world’s most critical energy chokepoints, through which approximately **20% of global crude oil supplies** passed before recent regional conflicts. Stability in the region has a direct impact on international energy markets and crude oil prices.