Govt cuts petrol, diesel prices by Rs22 per litre each

ISLAMABAD: The government on Friday announced a Rs22 per litre cut in petrol and diesel prices, calling it a relief measure for consumers during Eid holidays, according to an official statement from the Prime Minister’s Office.

The PM Office said that Prime Minister Shehbaz Sharif had fulfilled a commitment to provide relief to the public as soon as fiscal space became available.

It said petrol and diesel prices had both been reduced by Rs22 per litre under the latest revision.

Prime Minister Shehbaz Sharif said providing relief to the public remained among his government’s top priorities, adding that fuel prices had also been reduced in the previous week.

The statement said the government had continued to extend relief to citizens even under challenging economic conditions, including subsidies for public transport operators, goods transport, motorcyclists and rickshaw drivers.

It further said that while some countries in the region had seen long queues for fuel, Pakistan had ensured stable availability due to timely policy measures by the government.

The PM Office also said that during a global oil crisis, the government had absorbed increases of more than 130 rupees per litre through subsidies to avoid burdening consumers.

It noted that last week petrol and diesel prices were reduced by 6 rupees per litre, bringing petrol to Rs403.78 per litre and diesel to Rs402.78 per litre.

Following the latest reduction of Rs22 per litre, petrol is priced at Rs381.78 and diesel at Rs380.78 per litre. However, the Petroleum Division has not yet issued an official notification.

Earlier, on May 15, the government had also announced a Rs5 per litre cut in petroleum prices.