The federal government has opted to keep the prices of petrol and high-speed diesel steady for the current pricing cycle, following a period of relative calm in international oil markets triggered by the easing of tensions between the United States and Iran.
A notification from the Petroleum Division confirmed that petrol will remain priced at Rs299.50 per litre, while high-speed diesel will continue at Rs311.47 per litre until the next scheduled review.
This decision follows last week’s significant reductions in fuel costs, where petrol prices were cut by Rs74 per litre and diesel by Rs67 per litre. These cuts came after global crude oil prices dropped in response to the US-Iran Islamabad Memorandum of Understanding, which effectively ended months of conflict.
The conflict had previously disrupted shipping through the Strait of Hormuz, a vital oil transit route, causing international crude prices to surge and increasing import expenses for countries like Pakistan that depend heavily on imported fuel.
With the de-escalation of hostilities and improved stability in global energy markets, oil prices have softened, enabling Pakistan to maintain domestic fuel prices without further changes.
Prime Minister Shehbaz Sharif highlighted last week that the government is transferring the benefits of lower international oil prices directly to consumers, emphasizing the administration’s dedication to easing the economic burden on the public during uncertain times.
Despite initial fears over regional energy supply disruptions during the conflict, Pakistan managed to avoid major fuel shortages or rationing.
Throughout the crisis, the government absorbed a portion of the rising global oil costs through fiscal measures and expenditure controls to shield consumers from the full impact of price increases.
