Petrol, diesel prices: Petrol price reduced by Rs 6 cheaper, diesel becomes cheaper by Rs 7, big move by this government

Pakistan has announced a fresh cut in petrol and diesel prices, offering some relief to consumers facing rising inflation and economic pressure. The government reduced petrol prices by around Rs 6 per litre, while diesel prices were also lowered by nearly the same amount. The decision comes at a time when fuel prices in the country have seen sharp fluctuations due to global crude oil volatility and tensions linked to the Iran-Israel-US conflict. Pakistan has been reviewing fuel prices almost every Friday since February.

Pakistan cuts petrol and diesel prices

According to reports, Pakistan’s government has reduced petrol prices by Rs 6 per litre and announced a similar cut in diesel rates. The move is expected to provide temporary relief to transporters, businesses and common citizens struggling with high living costs.

Fuel prices in Pakistan have witnessed repeated changes over the past few months. International crude oil prices and pressure on the country’s foreign exchange reserves have played a major role in these fluctuations. Despite the latest reduction, fuel prices remain a major concern for many households.

Weekly fuel price review continues

Since the beginning of the Iran-Israel-US conflict earlier this year, Pakistan has started reviewing petrol and diesel prices every Friday. The government has adjusted rates several times depending on global crude oil prices and import costs.

In recent months, Pakistan has seen both major increases and occasional reductions in fuel prices. Analysts say the country’s dependence on imported fuel makes its economy highly sensitive to international market movements.

Fuel prices also rising in India

Meanwhile, India has also witnessed an increase in petrol and diesel prices due to rising crude oil costs in the international market. However, the increase has been relatively moderate compared to Pakistan.

Fuel prices in India have reportedly increased around Rs 5 in three separate revisions. On Saturday, petrol prices were increased by 87 paise while diesel became costlier by 91 paise. CNG prices were also raised by Rs 1.

Experts believe global geopolitical tensions and uncertainty in oil-producing regions could continue to impact fuel prices in both India and Pakistan in the coming weeks.