The federal government cut petrol prices in Pakistan by Rs6 per litre and high-speed diesel by Rs6.80 per litre for the next week, the Petroleum Division said Friday.
The new rates will take effect from May 23, according to a notification issued by the Petroleum Division. After the reduction, petrol will cost Rs403.78 per litre, while high-speed diesel will sell at Rs402.78 per litre.
The latest cut follows the previous weekly review, when the federal government reduced both petrol and diesel prices by Rs5 per litre each.
The government has reviewed petroleum prices every week since the US-Israeli conflict with Iran began on February 28. The conflict disrupted global fuel markets after the closure of the Strait of Hormuz, a key route for about one-fifth of global oil and gas supplies during peacetime.
Read: Petrol Price Pakistan Cut By Rs5 Per Litre
Petrol is widely used by commuters in small vehicles, rickshaws and motorcycles. Price changes directly affect middle- and lower-middle-income households that depend on petrol for daily travel.
High-speed diesel powers much of Pakistan’s transport and agriculture sectors. Trucks, buses, trains, tractors, tube wells and threshers use diesel, so changes in its price can affect transport costs and food prices.
