Pakistan’s prime minister has ordered an immediate cut in diesel prices by Rs32.12 per litre to ease the burden on consumers amid falling global oil costs.
The reduction, approved late Friday by Prime Minister Muhammad Shehbaz Sharif, lowers the diesel rate from Rs385.54 to Rs353.43 per litre, according to an official announcement from the Prime Minister’s Office reported by 24 News HD.
The move comes as the government prepares for its weekly petroleum price review on Saturday, with expectations of further declines in both petrol and diesel rates driven by falling international crude prices.
Global oil markets have steadied amid renewed optimism over a potential U.S.-Iran peace agreement that could ease tensions in the Middle East, a factor previously cited for record-high fuel costs.
As of early Friday trading, Brent crude futures slipped slightly to $94.67 per barrel while U.S. West Texas Intermediate edged up to $91.43 per barrel, showing minimal net change despite volatile sessions earlier in the week, according to the Pakistan Observer.
In the previous price revision effective April 11, the government had already reduced petrol by Rs11.83 and diesel by Rs134.81 per litre, bringing petrol to Rs366.58 and diesel to Rs385.54 per litre before the latest adjustment.
Kerosene was cut to Rs450.15 per litre and light diesel oil to Rs369.72 per litre in that same revision, which followed a televised address by the prime minister citing global oil price shifts.
Energy Minister Sardar Awais Ahmed Khan Leghari welcomed the reopening of the Strait of Hormuz for commercial shipping on Friday, linking the development to improved global energy supplies and future fuel price relief.
For more on this story, see Pakistan Cuts Petrol and Diesel Prices: Rs 12 and Rs 135 Reduction.
In a social media post, Leghari thanked Allah and credited Pakistan’s role in promoting peace under the leadership of the prime minister and army chief, citing a ceasefire in Lebanon as contributing to regional stability.
He expressed confidence that restored maritime access through the Strait, combined with greater liquefied natural gas availability, would boost electricity generation and strengthen power supply nationwide.
Officials said the public would be informed promptly of the latest price changes, emphasizing transparency in passing on cost relief from international markets.
The timing of the diesel cut — announced after business hours on Friday — suggests an effort to deliver immediate relief ahead of the weekend, when consumption typically rises.
While the government has tied recent price drops to global trends and diplomatic progress, it has not disclosed the exact mechanism or frequency of future adjustments beyond the weekly review cycle.
How much did diesel prices drop in Pakistan on Friday?
Diesel prices were reduced by Rs32.12 per litre, bringing the new rate to Rs353.43 from the previous Rs385.54.
What role did the Strait of Hormuz play in the government’s outlook on fuel prices?
The reopening of the Strait of Hormuz for commercial navigation was cited by the energy minister as a factor expected to improve global energy supplies and contribute to lower fuel prices in the near future.
Are further reductions in petrol and diesel expected?
The government indicated that falling global oil prices and sufficient domestic reserves support expectations of additional cuts in petrol and diesel rates from April 18 onward, though no specific figures were provided.