PM Shehbaz announces major fuel price cut

ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in fuel prices, cutting diesel by Rs135 per litre and petrol by Rs12 per litre, providing major relief to consumers.

In a televised address to the nation, the premier said the new price of diesel will be Rs385 per litre, while petrol will be available at Rs366 per litre. He added that the revised prices will take effect from midnight.

The prime minister termed the moment historic, noting that the situation in the Gulf has shifted from conflict to dialogue. He thanked the leadership of Iran and the United States for agreeing to negotiations, adding that both sides are set to arrive in Islamabad for talks.

He said Pakistan’s role in facilitating a ceasefire between the two countries is a matter of pride not only for the nation but for the entire Muslim world.

Shehbaz Sharif also praised Deputy Prime Minister Ishaq Dar and his team for their tireless efforts, while commending Field Marshal Syed Asim Munir for playing a key role in de-escalation and facilitating dialogue.

Reiterating his commitment, the prime minister said he had promised to pass on the benefit of lower global oil prices to the public, adding that the recent decline in international prices made the reduction possible. He noted that the government had previously spent Rs129 billion to control inflation.

He emphasized that the full benefit of the price cut would be transferred to the public, rejecting proposals to divert part of the relief toward fiscal adjustments.

He acknowledged the patience of citizens in bearing the burden of inflation and said it was now the government’s responsibility to provide relief.

The premier added that reducing costs for farmers remains a priority, while subsidies for motorcycles, public transport, and goods transport will continue.

He concluded by stating that despite challenges, the government has never left the public alone and reaffirmed that public welfare remains its top priority.