Pakistan has reduced the retail prices of petrol and diesel by 5 rupees per litre, a partial rollback of the sharp increases imposed just two weeks earlier. In a notification issued on Friday, the Petroleum Division under the Ministry of Finance announced that the new prices would take effect nationwide from 16 May.
Under the revised rates, petrol will now sell for 409.78 rupees per litre, while high‑speed diesel will cost 409.58 rupees per litre.
The ministry noted that both fuels are now 5 rupees cheaper than the previous retail price. However, this reduction only partially offsets the earlier hikes when petrol rose by 14.92 rupees per litre and diesel by 15 rupees per litre. Officials described the latest move as an adjustment aligned with global market trends.
Pakistan traditionally reviewed international oil prices every 15 days, but since the outbreak of the Iran-US-Israel conflict on 28 February, the government has shifted to weekly assessments to better manage volatility. Domestic fuel prices are now being recalibrated more frequently to reflect rapid changes in global supply and demand.
The latest cut offers modest relief to consumers, though uncertainty in global energy markets means further adjustments remain likely.
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