ISLAMABAD: Pakistan on Friday reduced petrol and diesel prices for the second consecutive week ahead of the Eid Al-Adha holidays, offering some relief to consumers expected to travel across the country in large numbers despite continuing volatility in global oil markets linked to tensions around the Strait of Hormuz and the ongoing US-Iran conflict.
The South Asian nation, which traditionally revises fuel prices on a fortnightly basis, has continued weekly adjustments as authorities monitor fluctuations in international energy markets following months of instability in the Gulf region.
“The Government of Pakistan has revised the ex-depot prices of the petroleum products for the next week starting from 23rd May, 2026,” the Ministry of Energy’s Petroleum Division said in a notification.
According to the notification, the price of petrol was reduced by Rs6 per liter to Rs403.78, while high-speed diesel was cut by Rs6.80 to Rs402.78 per liter.
Pakistan had raised petrol and diesel prices by around Rs15 per liter earlier this month, citing sharp volatility in international energy markets amid fears of supply disruptions linked to the Strait of Hormuz, a strategic shipping route through which roughly one-fifth of the world’s oil and liquefied natural gas supplies normally pass.
Global oil markets have remained sensitive since the outbreak of war between the United States and Iran in late February following joint US-Israeli strikes on Iran, with concerns persisting over shipping access and energy supplies in the Gulf region.
Pakistan relies heavily on imported petroleum products and liquefied natural gas, much of which transits through the Middle East, making the country vulnerable to spikes in global oil prices and shipping disruptions.
Higher fuel prices in Pakistan often feed directly into transport costs, electricity generation and food inflation, placing additional pressure on households already grappling with high living expenses.
