ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced a Rs32.12 per litre reduction in the price of diesel, lowering it from Rs385.54 to Rs353.43, in a move aimed at providing economic relief to the masses.
In a statement from Turkiye, where he is on an official visit, PM Sharif said the government would ensure the diesel price reduction is passed on to the people as swiftly as possible, underlining its commitment to providing economic relief.
Despite the diesel price cut, the prime minister did not adjust petrol or liquefied natural gas (LNG) prices.
READ MORE: Pakistan govt cuts diesel by Rs135, petrol by Rs12 per litre
The announcement by the prime minister coincided with a sharp fall in global oil prices after Iran declared the Strait of Hormuz completely open to commercial shipping for the remainder of the ceasefire.
Brent crude fell below USD90 a barrel for the first time in over five weeks, dropping to USD88 from above USD98 earlier on Friday.
The Strait of Hormuz, a narrow waterway connecting the Gulf to the Arabian Sea, typically handles around one-fifth of the world’s oil and liquefied natural gas exports.
Copyright Business Recorder, 2026
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