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The price of petrol will be Rs409.78 per litre, and diesel will cost Rs409.58 per litre.
BY Mahnoor | 16-05-2026
ISLAMABAD:
The government lowered petrol and diesel prices by Rs5 per litre each for the coming week, the Petroleum Division announced Friday.
With the new prices, high-speed diesel will cost Rs409.58 per liter, and petrol will cost Rs409.78 per liter.
The Petroleum Division announced the new prices will start at midnight and last for the next week.
Fuel prices are dropping for the first time in weeks. This follows recent increases caused by the fuel crisis. The crisis was triggered by the Strait of Hormuz blockade during the US-Iran conflict.
Last week, the government raised petrol prices by about Rs15 per litre and diesel prices by Rs15 per litre. Now, petrol costs Rs414.78 per litre, and diesel costs Rs414.58 per litre.
In February, the US and Israel attacked Iran. Iran responded by attacking back and blocking the Strait of Hormuz. This stopped oil shipments worldwide and caused oil prices to jump sharply.
Oil prices went up a lot, so the government increased fuel prices by over half.
With prices going up, the government raised the cost of petrol twice in the first week of March, more than global prices increased. But the biggest jump in price happened in April.
Last month, the government increased petrol prices by Rs137 per litre, reaching a record high of Rs458.4 per litre. However, shortly after, the prime minister announced on TV that the petrol tax would be reduced by Rs80 per litre, lowering the price to Rs378 per litre.
This month, the government raised petrol and diesel prices by Rs26.77 per litre, even though international prices didn’t increase. This happened after they added a Rs27 per litre tax on fuel.
A week later, fuel prices rose again, nearing Rs400 per litre. Then, the Petroleum Division announced another price increase of almost Rs15 per litre last week.
๐ ALSO WATCH
๐ The Government is continuing its cost -cutting measures for another month.
