Government adjusts fuel prices and imposes new austerity steps amid Middle East conflict

In the latest price revision, the government reduced the retail cost of petrol and raised the price of high-speed diesel. Taxes and duties on both fuels remain unchanged. The move follows a series of adjustments since early March, when weekly revisions were introduced amid volatile international oil markets.

To curb consumption, the cabinet re-imposed austerity measures, ordering market closures by early evening and cutting fuel allocations for government vehicles by half for a three-month period. A relief scheme for motorcycles, autos and vehicles up to 800cc was announced earlier by the prime minister to mitigate the burden of higher global oil prices. The petroleum minister confirmed that the Oil and Gas Regulatory Authority will now determine fuel prices daily, reflecting international market movements.