Pakistan slashes fuel prices after West Asia tensions ease, but petrol still far from pre-war levels

1 min readJul 4, 2026 08:12 AM IST

The Shehbaz Sharif government said fuel prices were reduced to ensure that part of the benefits of lower global prices last week is passed on to consumers.

Pakistan has slashed its retail fuel the prices, following the easing of tensions in West Asia. Both petrol and diesel prices have been cut by Rs 1.97 per litre for the next week. In a statement released by Pakistan’s Ministry of Petroleum, the Shehbaz Sharif government said that the move was implemented to ensure that part of the benefits of of lower global prices last week is passed on to consumers.

After the latest notification, high-speed diesel (HSD), which is mostly used in freight transportation, in Pakistan is now priced at PKR 309.50 for the next week. The pre-Iran War price was recorded at Rs 281 per litre on February 28.

The ex-depot rate of petrol was set at Rs297.53 per litre for the next week against Rs299.50 at present, showing a decrease of Rs1.97. The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March.