Winning Bizness Desk
Mumbai.Pakistan has reduced petrol and diesel prices by Pakistani Rs5 per litre, offering some relief to people struggling with rising living costs after weeks of sharp fuel hikes. The new rates came into effect from May 16. Petrol is now being sold at Pakistani Rs409.78 per litre, while high-speed diesel is available at Pakistani Rs409.58 per litre.
The reduction comes at a time when inflation and fuel shortages continue to put pressure on households across Pakistan. Petrol prices directly affect motorcycle riders, rickshaw drivers and small vehicle owners, making fuel costs a daily concern for lower and middle-income families.
Weekly fuel price revisions continue in Pakistan
Pakistan has been reviewing petroleum prices every Friday night over the past few months as the country battles a fuel crisis triggered by the Iran-US conflict that began on February 28. Though the conflict has currently paused, crude oil prices remain unstable in the international market.
Officials say the government is trying to balance public pressure and import costs while managing limited foreign exchange reserves. Fuel supply and pricing have become politically sensitive issues in the country.
Key developments in Pakistan’s fuel pricing:
- Petrol and diesel prices cut by Pakistani Rs5 per litre from May 16
- Petrol now costs Pakistani Rs409.78 per litre
- High-speed diesel rate reduced to Pakistani Rs409.58 per litre
- Weekly price reviews taking place every Friday night
Massive hikes pushed public anger higher
The latest cut comes just one week after Pakistan increased petrol prices by Pakistani Rs14.92 and diesel by Pakistani Rs15 per litre. Earlier, on March 6, fuel prices were raised by Pakistani Rs55 per litre soon after the Iran-US conflict began.
Another major hike followed on April 2:
- Petrol prices rose by 43%
- High-speed diesel prices increased by 55%
- Protest rallies were held in Islamabad demanding cheaper fuel
Public anger over inflation and transport costs has been growing steadily. On May 15, protestors gathered in Islamabad asking the government to reduce petroleum prices and provide relief to ordinary citizens.
India also raises fuel and CNG prices
While Pakistan announced a reduction, India increased petrol and diesel prices by Rs3 per litre on May 15. In Delhi, petrol now costs Rs97.77 per litre, while diesel has reached Rs90.67 per litre.
CNG prices were also increased by up to Rs2 per kilogram in major cities. In Delhi, consumers are now paying Rs79.09 per kg for CNG. Oil companies in both countries say the price revisions are linked to rising crude oil rates in the global market.
Crude oil prices have jumped sharply since tensions escalated in West Asia. Before the Iran-US conflict, crude oil was trading near 70 dollars per barrel. It has now crossed the 100-dollar mark, increasing pressure on fuel-importing nations. Experts warn that if crude oil prices remain high for a longer period, fuel prices may rise further in the coming weeks.
