The federal government cut Pakistan’s fuel prices on Friday, reducing petrol by Rs74 per litre and diesel by Rs67 per litre after a sharp fall in global crude oil prices.
The reduction followed easing geopolitical tensions in the Middle East. The relief came after the US-Iran peace agreement and the reopening of the Strait of Hormuz.
Read: Oil Flows Resume as US–Iran Agreement Takes Effect
Pakistan had provided diplomatic facilitation for the agreement. The Strait of Hormuz is a major global oil shipping route, and its reopening helped ease pressure on international fuel markets.
The government did not provide the revised per-litre prices. It also did not specify the effective time of the new petrol and diesel rates.
