Govt has reduced the petrol and diesel price by PKR 2 per liter each

Pakistan's Ministry of Finance announced a reduction in diesel and petrol prices by PKR 2.0 per liter for the next fortnight, effective May 1. According to a notification issued Wednesday, High-Speed Diesel (HSD) will now cost PKR 256.64 per liter, while Motor Spirit (petrol) is priced at PKR 252.63 per liter.

The decision comes amid stable global oil prices, with Brent crude hovering around $65 per barrel, influenced by market expectations of oversupply and ongoing uncertainty surrounding tariff negotiations between the United States and China.

Previously, on April 15, the government maintained fuel prices at PKR 254.63 per liter for petrol and PKR 258.84 per liter for HSD, despite a significant decline in international prices. Instead, the government redirected savings from petroleum prices toward strategic infrastructure projects in Balochistan, a historically underdeveloped region.

During a cabinet meeting, Prime Minister Shehbaz Sharif announced plans to utilize funds saved from fuel price adjustments for the reconstruction of the N-25 highway. The highway connects Karachi to Chaman via Quetta, Kalat, and Khuzdar, and is expected to bolster regional connectivity and development.