The government of Pakistan has announced to reduce the prices of petroleum products in the country today by Rs5 for the ease of people.
According to the details, prices for both petrol and diesel will be brought down by Rs5. The new prices will be applicable from 12 AM, May 16, for the next 7 days.
The notification issued by the Petroleum Division stated that the Government of Pakistan has revised the prices of petroleum products for the next week, and this will be applicable from May 16, 2026.
According to the notification, the price of high-speed diesel per litre has been reduced by Rs5, after which the price of high-speed diesel per litre has been fixed at Rs409.58.
The price of petrol has also been reduced by Rs5 per liter, as a result of which the price of petrol per litre has decreased from Rs414.78 to Rs409.78.
Petrol prices in Pakistan
Before this update, some reports on Friday suggested that the federal government may increase the prices of petroleum products to around Rs430 per litre.
Reports say that the government is facing pressure from the International Monetary Fund (IMF) to pass on the impact of rising global fuel prices to the public after receiving a loan tranche of $1.32 billion.
According to some experts, the price of petrol in Pakistan was expected to increase by at least Rs10 per litre due to the increasing oil prices globally.
Reports said that the price of Brent crude oil has reached close to $110 per barrel, while US crude oil is also trading above $100 per barrel.
Oil prices continue to rise due to global supply shortages and geopolitical tensions. This directly affects countries dependent on imported fuel, like Pakistan.
After the review by the government on Friday, prices were likely to increase further. However, the government has now announced a Rs5 reduction.
