Pak cuts petrol price by Rs 80 per litre after protest over sharp hike

Pakistan has announced a reduction of 80 rupees per litre in petrol prices, bringing the rate down to 378 rupees, Prime Minister Shehbaz Sharif said late on Friday. The government will absorb the cut-through adjustments in the petroleum levy.

The decision comes just a day after Islamabad sharply increased consumer fuel prices, citing a surge in global oil markets driven by the ongoing conflict in the Middle East. In that hike, diesel prices were raised by 54.9% to 520.35 Pakistani rupees per litre, while petrol prices went up by 42.7% to 458.40 rupees per litre.

Petroleum Minister Ali Pervaiz Malik said the increase had been unavoidable due to rising international crude prices. “It was inevitable to raise the prices due to the international market prices going out of control after the US-Iran war,” he said during a joint press conference with Finance Minister Muhammad Aurangzeb, which was telecast on state television.

The latest revision followed another increase last month, when Pakistan had already raised diesel and petrol prices by around 20%, attributing it to higher global oil prices linked to the US-Israeli war on Iran.

Pakistan, which relies heavily on oil imports from countries such as Saudi Arabia and the UAE via the Strait of Hormuz, has been particularly vulnerable to fluctuations in global energy markets.

The sharp fuel price hikes triggered widespread protests across the country, with long queues forming at petrol stations. Demonstrators criticised the government for imposing sudden increases that added to the burden on a population already struggling with an economic crisis.

In response, the government has announced targeted relief measures. Aurangzeb said a subsidy of 100 rupees per litre will be provided to two-wheeler users, capped at 20 litres per month, for a duration of three months.

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