ISLAMABAD: The federal government on Friday announced reduction in petrol and diesel prices by Rs1.97 per litre each, effective July 4, 2026.
The new prices will remain in place for the upcoming week, aligned with the current fiscal year’s petroleum levy targets.
According to a notification from the Petroleum Division, the new price of petrol (MS) has been fixed at Rs297.53 per litre. Meanwhile, High-Speed Diesel (HSD) has been adjusted to Rs309.50 per litre.
The dip in petrol prices comes on the back of easing geopolitical tensions, which pushed international oil prices down—notably pulling Arab Light crude down by 6.29 percent. Conversely, HSD prices saw an upward trend driven by higher international spreads.
This follows a July 2 recalibration where the government adjusted the Petroleum Levy and Climate Support Levy by Rs2.50 per litre each, keeping the overall petroleum products prices unchanged.
Copyright Business Recorder, 2026
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