Islamabad, April 17, 2026 — Prime Minister Shehbaz Sharif on Friday approved a significant reduction in the price of high-speed diesel by Rs32.12 per litre, bringing the new rate down to Rs353.43 per litre, according to a statement from the Prime Minister’s Office.
PHEVs Gain Momentum in Pakistan as Chery Master Crosses 2,000 Bookings
The government maintained the price of petrol unchanged at Rs366.58 per litre, while stating that the relief from the diesel price cut would be passed on to the public “as soon as possible.”
Officials said the decision was aimed at providing immediate relief to consumers amid changing international energy market conditions.
The announcement comes shortly after developments in the Middle East, where Iran’s foreign minister confirmed the reopening of the strategic Strait of Hormuz for commercial shipping during a US-brokered ceasefire period. The waterway had been partially disrupted since late February following regional conflict involving the United States, Israel, and Iran.
Following the easing of tensions, global oil prices fell sharply by more than 11%, with Brent crude and US West Texas Intermediate both recording significant declines.
Pakistan has recently seen frequent fluctuations in fuel prices due to global market volatility. Over the past several weeks, the government has both increased and reduced petroleum prices in response to international crude movements, while also absorbing part of the cost through subsidies.
Officials say the latest reduction reflects efforts to stabilize domestic fuel pricing while passing on benefits from falling global oil prices to consumers.
