PM Shehbaz Announces Massive Fuel Price Cut, Petrol Down by Rs74 Per Litre
Prime Minister Shehbaz Sharif announced a major reduction in domestic fuel prices on Friday, slashing petrol by Rs74 per litre and high-speed diesel (HSD) by Rs67 per litre. Speaking in the National Assembly, the premier stated that the decision aims to pass the benefits of declining international oil prices directly to the public. The sharp drop in global oil markets follows a US-Iran peace deal that eased Middle East tensions and restored energy shipping through the crucial Strait of Hormuz.
Once the formal notification is officially issued by the government, the new price for petrol will drop to Rs299.78 per litre, down from its previous rate of Rs373.78. Similarly, high-speed diesel will see a significant decrease, moving to Rs311.78 per litre from its prior rate of Rs378.78. This relief is expected to positively impact all segments of society, as petrol heavily influences commuting costs for the middle class, while diesel is a driver of heavy transport, logistics, and power generation.
| Fuel Type | Old Price (PKR/litre) | New Price (PKR/litre) | Total Decrease (PKR/litre) |
| Petrol (MS-92) | Rs373.78 | Rs299.78 | Rs74.00 |
| Diesel (HSD) | Rs378.78 | Rs311.78 | Rs67.00 |
This sweeping price cut marks a major turning point after months of economic strain caused by the US-Iran wartime energy crunch, during which the government resorted to weekly price revisions. Fuel prices in Pakistan hit an all-time peak on April 3, 2026, when petrol soared to Rs458.40 and diesel skyrocketed to Rs520.35 per litre due to the Strait of Hormuz blockade. The rapid de-escalation of the crisis allowed the government to fulfill its promise of lowering the financial burden on citizens.
In his official statement, Prime Minister Shehbaz thanked the public for their resilience and praised the coordinated efforts of civilian leadership and military officials. He specifically extended gratitude to Chief of Army Staff Field Marshal Asim Munir for his diplomatic role in securing the Islamabad MoU that helped restore regional peace. Moving forward, the premier affirmed that providing maximum financial relief and maintaining economic stability remain the government’s top priorities.
