The government finally passed on the global price drop to consumers. Pakistan cuts diesel by 135 rupees per liter, bringing the new price to PKR 385. Petrol prices dropped by PKR 12 to PKR 366 per liter. Prime Minister Shehbaz Sharif announced the reduction in a televised address on Friday. He called it a “historic moment” for the country.

Subsidies for two wheelers, transporters and goods carriers will remain in place despite the cuts. The Prime Minister said the reduction in diesel prices will provide much needed relief to the agricultural sector. Lower transportation costs will benefit the public directly. With wheat harvesting season underway, lowering input costs for farmers remains essential. Pakistan cuts diesel by 135 rupees primarily to help farmers reduce their production costs.

Sharif rejected a proposal to retain part of the savings. He insisted that the full benefit of reduced oil prices would go to the public. The government had previously spent PKR 129 billion in recent weeks to shield citizens from rising costs. Petrol prices had increased by PKR 57 per liter before this cut. Diesel had surged to an all time high of PKR 520 per liter, jumping 89 percent since the Middle East conflict began. Now, Pakistan cuts diesel by 135 rupees and petrol by 12, bringing real relief to millions of struggling citizens.