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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Amidst the Iran-America tension and fluctuating crude oil prices, the Pakistan government has reduced the prices of petrol and diesel, giving relief to its people. On Friday, Pakistan government reduced the price of petrol by Rs 6 per liter and the price of high speed diesel i.e. HSD by Rs 6.80 per liter. According to the new prices, petrol in Pakistan has now become Rs 403.78 per liter and high speed diesel has become Rs 402.78 per liter. These new rates have been implemented from May 23.

This is the second consecutive week that fuel prices have been reduced in Pakistan. Earlier last week also, the prices of petrol and diesel were reduced by Rs 5 per liter. Petrol is mostly used in private vehicles, bikes, rickshaws and small vehicles, hence reducing its price provides relief to the common people, especially the middle class. Whereas high speed diesel is used in trucks, buses and big generators. In such a situation, transport expenses may also be affected due to diesel being cheaper.

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There was also a record increase earlier

Although at present the prices are decreasing in Pakistan, but earlier a huge increase in the prices of petrol and diesel was also seen there. After the start of the US-Israel conflict over Iran, on March 6, the Pakistan government had increased the prices of petrol and diesel by up to Rs 55 per liter. After this, on April 2, it was announced to increase the price of petrol by 43 percent and the price of diesel by 55 percent.

Review happening every Friday

The Pakistan government has been reviewing the prices of petrol and diesel every Friday since the tension began in February. For this reason, continuous fluctuations are being seen in the price of fuel there. On the other hand, the effect of crude oil prices is visible in India also. Although the increase here has not been as big as in Pakistan, the prices of petrol and diesel have been increased thrice in the last few days. Even on Saturday, petrol became costlier by 87 paise per liter and diesel by 91 paise per litre. Apart from this, the price of CNG has also been increased by Re 1. Due to continuously rising prices, the pressure of inflation is increasing on the common people.

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Can you imagine that the price of one liter of petrol could be equivalent to that of a toffee or a matchbox? Even today, fuel prices are so low in many countries of the world that it becomes difficult to believe. Especially in Gulf and oil rich countries, governments give huge subsidies to their citizens. Let us know what is the mathematics of petrol prices in the world and Gulf countries.

cheapest petrol in the world

Fuel prices have a direct impact on the economy of any country and the pocket of the common man. While in countries like India, petrol prices remain at or around Rs 100, there are some countries in the world where the price of petrol is just Rs 2 to 3 per liter or even less.

price of petrol in iran

Iran currently remains on top in terms of providing the cheapest petrol in the world. The price of petrol in Iran is approximately between Rs 2.50 to Rs 3 per liter. The reason behind such low price is the strong subsidy policy of the Iranian government. However, for Iran this has become a boon as well as a problem. Due to low prices, smuggling of petrol to neighboring countries has increased. To stop this, the government has now implemented the ‘quota system’, under which those who use more than 160 liters per month have to pay a higher price.

oil prices in libya

The name of Libya comes at second place. Being a member of North Africa and the Arab League, petrol is available at an average price of Rs 2.64 per liter in Libya. This country, rich in oil reserves, provides fuel at the cheapest rates globally to provide economic relief to its citizens.

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Venezuela slipped from the top

There was a time when Venezuela was the undisputed country providing cheapest petrol in the world, but now it has come to third place. The price here is approximately Rs 3 per litre. Quota system is now implemented in Venezuela also, where subsidy is available only for the first 120 liters of the month. If a citizen takes more petrol than this, he may have to pay up to Rs 40 per liter ($0.50).

Who is at the forefront among the Gulf countries?

Talking about Gulf Cooperation Council (GCC) countries, Kuwait is the cheapest petrol providing country in this region. The price of petrol in Kuwait is around Rs 29 to 30 per liter. After this the order is as follows-

Iraq- Around Rs 29-30 per liter

Bahrain- Around Rs 31-32 per liter

Queue- Around Rs 48-49 per liter

Saudi Arabia- Around Rs 50-51 per liter

Oman- Around Rs 53-54 per litre.

Countries like Saudi Arabia and Oman have cut subsidies in recent years to diversify their economies, causing prices here to be slightly higher than in Kuwait.

Situation in India and neighboring countries

If we talk about India’s position in the global list, India comes at 73rd place. Petrol prices in different states of India remain between Rs 94.77 to Rs 105 per liter. In comparison, petrol is much cheaper in our neighboring country Pakistan. The prices there are around Rs 80 to Rs 84 per liter and it is ranked 36th in the global list. At the same time, fuel is also very economical in the African country Angola, where the price is around Rs 27 per liter.

The main reason for such a huge difference is the tax structure of the countries and the capacity to produce crude oil. While Gulf countries produce their own crude oil, India imports more than 80% of its requirement.

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