Govt slashes petrol prices by Rs12, diesel by Rs135 per litre

April 10, 2026 (MLN): The government has slashed petroleum prices in a fresh relief measure, reducing petrol by Rs12 per litre and high-speed diesel by Rs135 per litre, with the revised rates set to take effect from midnight.

Following the adjustment, petrol prices will decline from Rs378 per litre to Rs366 per litre.

Meanwhile, high-speed diesel will see a significant cut, bringing its price down from Rs520.35 per litre to Rs385.35 per litre.

Prime Minister Shehbaz Sharif unveiled the decision during a live televised address to the nation, describing it as part of ongoing efforts to provide relief to citizens amid volatile global energy markets.

During his address, the prime minister thanked Deputy Prime Minister Ishaq Dar and his team for their tireless day-and-night efforts, as well as Field Marshal Asim Munir and his team for their role in easing regional tensions and facilitating dialogue between the United States and Iran.

He stated that he had promised the nation that any decline in global oil prices would be promptly passed on to the public.

“As soon as there has been some improvement in international oil markets, we are reflecting that relief in prices today to ease the burden on our people,” he said.

The prime minister added that he had been advised to pass on only partial relief while retaining some margin to offset approximately Rs129 billion in expenditures. However, he said the proposal was rejected, opting instead to transfer the full benefit to consumers.

The move comes after a series of sharp fluctuations in fuel prices earlier this month, when rates were first increased substantially before a temporary relief package brought petrol down to Rs378 per litre.

The reduction follows a sharp decline in global oil prices, which have fallen below $100 per barrel after easing geopolitical tensions.

Oil markets reacted positively after the United States temporarily halted military action against Iran, signaling potential de-escalation.

In a parallel diplomatic development, Pakistan played a key role in facilitating a ceasefire between the two nations, with Prime Minister Shehbaz Sharif inviting delegations to Islamabad for peace talks.

The latest revision is expected to ease inflationary pressures, particularly by lowering transportation and logistics costs, offering some respite to consumers and businesses alike.

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