Pakistan Temporarily Cuts Fuel Prices Amid Global Market Volatility

The Pakistani government announced a temporary reduction in petrol and high-speed diesel prices for three days, effective August 29. The price of petrol will drop to Rs342.02 per litre, while HSD will cost Rs371.44 per litre during this period. This latest revision comes just one day after the government reduced prices by 50 paisas and 19 paisas per litre, respectively.

The new pricing mechanism introduced last month reviews and notifies petroleum product prices on a daily basis due to global oil market volatility. According to the Pakistan Economic Survey 2024-25, petroleum products constitute one of the country's largest import categories, making it vulnerable to changes in international crude oil prices.