Pakistan Fuel Rate Cut: Shahbaz Sharif’s government in Pakistan has again given relief to the people of its country. The government has again announced a reduction in petrol prices by Rs 4 per liter. According to the notification issued by the Petroleum Division of the Energy Ministry of Pakistan, the new rates have been implemented in the entire country from June 6, 2026.

New price of petrol in Pakistan

After the reduction of Rs 4 per liter in the price of petrol in Pakistan, now petrol has become Rs 377.78 per liter, which was earlier Rs 381.78. There is currently no change in the prices of high-speed diesel. It is still stable at Rs 380.78 per liter.

How much has the price reduced so far?

Overall, petrol has become cheaper by about Rs 37 per liter in Pakistan in the last four weeks. Earlier last week i.e. in the last week of May, the Government of Pakistan had made a huge cut of Rs 22 per liter on both petrol and diesel.

Why no relief on diesel?

Diesel prices were continuously increasing in the global market, due to which its price in Pakistan was expected to increase by Rs 34 to Rs 35. However, the government decided not to put additional burden on the public and worked to keep the prices stable by adjusting the levy.

What is the situation of India?

Even though the government has reduced fuel prices four times in Pakistan and increased the prices four times in India, yet the situation in India is under control. Petrol prices in India remain at the level of Rs 115 per liter to Rs 102 per liter, which is much lower than the new price after the rate reduction in Pakistan.

In the last few months, petrol prices in Pakistan had crossed Rs 380-400 per liter. In such a situation, as soon as there is some relief in international oil prices, the government is making big cuts of Rs 4 to Rs 22 on a weekly basis. In contrast, prices in India have been in a range for quite some time.

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Petrol-Diesel Price: The ongoing tension in the Middle East is affecting many countries. Whenever the prices of petrol and diesel change, the first thing it impacts is the monthly budget of the common man. In such a situation, on Friday i.e. on May 16, the price of petrol and diesel in India was increased by Rs 3 per liter, while in the meantime the government of neighboring country Pakistan has reduced the prices of petrol and diesel. This news has now sparked a new discussion among the people.

By how much rupees did petrol and diesel become cheaper in Pakistan?

Pakistan government has reduced the prices of petrol and diesel by Rs 5 per liter. After the cut, the price of petrol there has become Rs 409.78 per litre. The price of high-speed diesel has increased to Rs 409.58 per litre. The Pakistan government has been reviewing petroleum prices every Friday night since the US-Israel-Iran war started on February 28.

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Last week, the government had increased petrol by Rs 14.92 per liter and diesel by Rs 15 per liter. After the start of the war, petrol and diesel were made costlier by Rs 55 per liter for the first time on March 6. After this, on March 9, the government also took some big decisions to reduce expenditure.

Petrol and diesel became costlier by Rs 3 in India

Government oil companies in India have changed the prices of petrol and diesel after four years. On Friday, the prices of both the fuels were increased by Rs 3 per liter. Petrol and diesel prices were stable from April 2022. However, before the Lok Sabha elections in March 2024, both the fuels were cut by Rs 2 per liter.

Prices increased less in India compared to other countries

Even after the global oil crisis, the increase in prices of petrol and diesel in India has been less than in many big countries. According to the report, petrol in Myanmar became costlier by 89.7 percent and diesel by 112.7 percent. Apart from this, fuel prices increased by 40 percent to 80 percent in Malaysia, Pakistan, UAE and America. At the same time, petrol and diesel have become increasingly expensive in Sri Lanka, Canada, Britain and France. It means clearly that in comparison to this, petrol has become costlier in India by only 3.2 percent and diesel by 3.2 percent.

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Pakistan Petrol/Diesel Crisis: The effect of increasing tension in the Middle East regarding the Iran-Israel war is now visible in Pakistan too. The people of Pakistan, who were already facing the brunt of inflation, got another big shock when the government here announced to increase the prices of petrol and diesel to a record level in the history of the country.

There is an atmosphere of chaos in Pakistan due to this announcement made on Friday night. People are running here and there to fill fuel in their vehicles before the new prices are implemented. In cities like Karachi, Lahore and Islamabad, people are flocking to petrol pump stations to buy more fuel due to concerns about rising prices, causing traffic jams.

How much have the prices increased?

Shahbaz Sharif’s government in Pakistan has increased the prices of petrol and diesel by 55 Pakistani rupees on March 7, which is considered to be the biggest increase till date. With this, the new price of petrol has now reached PKR 321.17 and the price of diesel has reached PKR 335.86 per liter.

The surprising thing is that this increase in prices happened 24 hours after the government assured the people of the country that there are huge reserves of crude oil in the country. Whereas according to reports, at present Pakistan has only 26-28 days of petrol-diesel and 10 days of crude stock left. To save fuel, the government is recently considering the options of working from home (WFH) and running online classes in schools.

Impact on oil supply in Pakistan

Oil supply in Pakistan has been badly affected due to the closure of the Strait of Hormuz between Israel and American attacks from Iran. Pakistan is dependent on Saudi Arabia and UAE for its oil needs. Pakistan imports 80-85 percent of its oil requirement.

In the business year 2023-24, Pakistan imported about 9.05 million metric tons of crude oil. Pakistan imports 4,30,000 barrels of oil per day, whereas the daily demand in the country is 5,00,000 barrels. Pakistan spent about $5.61 billion in crude oil imports alone in 2024 and about $11.94 billion in the first nine months of the business year 2024-25.

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