Islamabad: The government has announced a significant reduction in petroleum prices, passing on substantial relief to consumers amid a sharp decline in global crude oil rates.
According to the official notification, petrol has been reduced by Rs74 per litre, while high-speed diesel has been cut by Rs67 per litre. The revised prices have been implemented with immediate effect.
Officials said the decision was driven by a sustained fall in international oil prices and improving geopolitical conditions, particularly easing tensions in the Middle East, which have helped stabilize global energy markets.
They added that reduced concerns over oil supply disruptions and improved global supply chains have contributed to the downward trend in crude prices, enabling the government to adjust domestic fuel rates accordingly.
Economic observers believe the reduction in fuel prices will lower transportation costs, ease inflationary pressures, and provide relief to both households and businesses. They further noted that the move could help support overall economic activity in the coming weeks.
