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Orders petrol prices to drop by Rs74 and diesel by Rs67. Promises to pass these savings on to the public.
BY Mahnoor | 20-06-2026
ISLAMABAD: Prime Minister Shehbaz Sharif announced a big drop in fuel prices on Friday. Because oil prices fell globally following a peace deal between Iran and the US, the government is passing these savings to the public.
Petrol prices have decreased by Rs74.28 per litre, dropping from Rs373.78 to Rs299.50. Diesel prices have also fallen by Rs67.31 per litre, moving from Rs378.78 down to Rs311.47.
This news follows a drop in global oil prices to about $75 per barrel, nearing levels seen before the conflict began. On Friday, oil prices fluctuated between $81.00 and $72.83, finally closing at $75.22. This is a decrease of $7.22, or about 8.73 percent, from last week.
HSD fuel is used mostly in transport and farming, while petrol is used for cars and motorcycles. Officials believe this price cut will help lower inflation and provide relief to people who have dealt with many fuel price increases lately.
Prime Minister Shehbaz Sharif stated that because the region is more stable and global oil prices have dropped, the government has quickly lowered fuel prices for the people.
The Prime Minister said the government saved Rs129 billion by cutting spending and reducing the development budget. This money was used to help citizens struggling with rising fuel costs.
He stated that the government is fulfilling its promise to the people. He also added that the government understands the public’s struggles and thanks them for staying strong during these hard times.
He said the government has been trying to lower fuel prices since the crisis began, using the money it can afford.
The prime minister also mentioned that while other countries had to limit fuel use during the economic crisis, Pakistan avoided energy shortages by planning and managing well.
“Because we acted quickly, there were no shortages or long lines, and people could easily buy fuel,” he said, thanking provincial leaders for helping keep the economy stable.
He added that the government worked hard to protect citizens from rising global prices. “We are now passing the savings from lower international oil prices directly to the people,” he said, promising to keep working to stabilize the economy and lower inflation.
The prime minister also mentioned the region, saying that God has blessed Pakistan and that the Islamabad agreement is a historic event.
He praised General Asim Munir, stating that his hard work and skills were essential in making the peace deal happen, which helped stabilize local markets.
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