Pakistan reduced petrol and high-speed diesel prices by Rs1.97 per liter for the coming week, the energy ministry announced on Friday, extending recent cuts as global crude prices eased and oil supplies improved after a ceasefire in the Middle East.
Price Adjustments Effective July 4, 2026
Following the latest reduction, petrol will cost Rs297.53 per liter, while high-speed diesel will be available at Rs309.50 per liter. The Ministry of Energy’s Petroleum Division stated, “The Government of Pakistan has revised the ex-depot prices of the petroleum products for the next week starting from 4th July 2026 as per following details.”
This cut follows a significant reduction in June, when Pakistan slashed petrol by Rs74 per liter to Rs299.50 and high-speed diesel by Rs67 per liter to Rs311.47, after global oil prices declined following the signing of the Islamabad Memorandum of Understanding between the United States and Iran, which ended months of conflict.
Background: Conflict and Global Oil Supply
The Middle East conflict, which began in late February, disrupted shipping through the Strait of Hormuz—a vital route for global oil trade—driving up oil prices and increasing fuel costs for import-dependent countries such as Pakistan. The subsequent ceasefire and diplomatic agreement helped stabilize markets and ease supply concerns.
Government’s Consumer Relief Strategy
Last week, Pakistan’s Energy Minister Ali Pervaiz Malik said the government was passing on the benefit of falling international fuel prices to consumers and was not imposing any additional burden on any sector. Throughout the conflict, Pakistan’s government sought to shield consumers from rising energy costs by absorbing part of the price shock through budgetary savings and spending cuts.
The latest price reduction reflects continued global oil market stability and the government’s commitment to providing relief to citizens amid economic challenges.
