Petrol price slashed by Rs6, diesel’s by Rs6.80
The federal government has reduced prices for High-Speed Diesel and petrol, effective May 23, 2026, citing global oil market volatility and geopolitical tensions as reasons for the adjustment.
- New High-Speed Diesel and petrol prices.
- Global oil market volatility and geopolitical tensions.
- Government's price adjustment mechanisms.
ISLAMABAD: The federal government has announced a reduction in petroleum product prices, effective May 23, 2026.
According to a statement from the Petroleum Division, the price of High-Speed Diesel (HSD) has been cut by Rs 6.80 per litre, dropping from Rs 409.58 to Rs 402.78.
Meanwhile, petrol prices have decreased by Rs 6 per litre, bringing the new rate down to Rs 403.78 from Rs 409.78.
Officials attributed the price revision to ongoing volatility in global oil markets, driven by geopolitical tensions and supply disruption concerns.
READ MORE: Pakistan govt cuts petrol, diesel prices by Rs5 per litre each
According to sources, the government lowered ex-depot fuel prices by adjusting both ex-refinery prices and the Inland Freight Equalization Margin (IFEM) rates. Consumers are currently paying a combined Rs 160 per litre in petroleum levy on both petrol and HSD, in line with the government’s agreement with the IMF.
Copyright Business Recorder, 2026
Comments