Pakistan trims petrol rates while raising diesel prices amid fuel austerity measures

Starting Friday, the Pakistani government will implement a lower retail price for petrol and a higher price for high-speed diesel, while keeping existing tax and duty levels at Rs114 per litre for petrol and Rs100 per litre for diesel. This move is part of a broader set of austerity steps introduced in response to rising global oil costs linked to the ongoing Middle-East conflict, including earlier market-closing times and a 50 percent cut in fuel allocations for official vehicles for three months.

Prime Minister Shehbaz Sharif previously announced a relief package aimed at owners of motorcycles, autos and vehicles up to 800 cc to ease the impact of higher oil prices. Petroleum Minister Ali Pervaiz Malik has tasked the Oil and Gas Regulatory Authority with setting fuel prices daily based on international market trends. The adjustments come after a period of weekly price revisions that began in early March.