The government of Pakistan has announced a big cut in fuel prices. High-speed diesel price has been reduced by Rs. 67 per litre. It now costs Rs. 311.78 per litre. Petrol price has also dropped sharply by Rs. 74 per litre to Rs. 299.78 per litre. These new rates will take effect from June 20, 2026.
This major relief comes after global crude oil prices dropped. Lower international oil rates, around $79 per barrel, and a recent US-Iran peace deal helped reduce tensions in the Middle East. This brought down oil costs worldwide. Prime Minister Shehbaz Sharif said the government is passing the full benefit to the people as promised.
The Oil and Gas Regulatory Authority (OGRA) recommended these changes. The government quickly approved them to help citizens. Diesel is widely used for trucks, buses, farming machines, and power generation. A lower price will reduce transport costs, bring down prices of food and daily goods, and ease the burden on families.
The government has urged oil companies to pass on the new lower rates immediately to consumers at petrol pumps. This step is seen as a positive move to support the economy. Further changes in prices will depend on global oil trends in the coming weeks.
