Pakistan Reduces Petrol and Diesel Prices for Consumers

Pakistan’s federal government has announced a reduction in fuel prices at the consumer level, effective from today.

According to the Finance Division of the Ministry of Finance, the price of petrol has been reduced by 2 rupees per liter, bringing it down to 263.45 rupees per liter, while high-speed diesel has been cut by 4.79 rupees per liter, now priced at 279.65 rupees per liter.

Officials said the decision was made after reviewing the current situation in the international oil market and following recommendations from the Oil and Gas Regulatory Authority (OGRA). However, the ministry did not fully accept OGRA’s proposal, which had suggested a larger cut of 3.70 rupees per liter for petrol.

OGRA also noted that the recent partial activation of units at Kuwait’s Al-Zour Refinery, one of the largest in the Gulf region, has increased oil supply to Pakistan, contributing to the price adjustment.