Petrol price slashed for next week in Pakistan

The government has announced a reduction in petrol prices across Pakistan.

According to the Petroleum Division, the price of petrol has been reduced by Rs4 per litre, while the price of diesel remains unchanged.

The new price of petrol has been set at Rs377.78 per litre. Meanwhile, the price of diesel will remain unchanged at Rs380.78 per litre.

The revised petrol price will come into effect from midnight tonight.

The government has been reviewing petroleum prices on a weekly basis since the US-Israeli conflict with Iran on February 28.

The conflict also triggered a global fuel crunch after the closure of the Strait of Hormuz, a key route through which around one-fifth of the world’s oil and gas supplies pass during peacetime.

Petrol is mainly used by commuters in small vehicles, rickshaws and two-wheelers.

Higher fuel prices significantly impact the budgets of middle and lower-middle-class households, who rely on petrol for daily travel.