Petrol Price drops to Rs409.78 in Pakistan after Rs5 Cut in Fuel Rates
Why this matters: local context for readers following news across Pakistan and the region.
ISLAMABAD — The government of Pakistan announced a Rs5 per litre cut in petrol and high-speed diesel prices, according to an official notification issued by the Petroleum Division. Petrol now stands at Rs409.78 per litre, and revised rates will come into effect from May 16. After the latest cut, petrol now stands at Rs409.78 per litre, while high-speed diesel (HSD) is priced at Rs409.58 per litre. The change comes at a time when fuel prices have been swinging sharply in rapid succession, leaving consumers and markets unsettled. Petrol continues to exert direct pressure on household budgets, particularly for middle- and lower-income groups. Diesel, meanwhile, remains the backbone of the country’s logistics chain, powering heavy transport vehicles and large generators. Authorities have been revising petroleum prices on a weekly Friday cycle amid ongoing global market instability. Officials have linked this volatility to disruptions following the US-Israeli conflict with Iran that began on February 28, which reportedly triggered a global fuel squeeze. Rumours about Increase Fall Flat Inflation-weary Pakistanis are once again bracing for a powerful jolt in petroleum prices as the federal government prepares to announce revised fuel rates at midnight, with early reports indicating a heavy and possibly historic increase in petrol and diesel prices for the second half of May 2026. Oil and Gas Regulatory Authority (OGRA) has submitted recommendation to Prime Minister Shehbaz Sharif proposing a staggering increase of Rs71.40 per litre in petrol and Rs56.46 per litre in high-speed diesel (HSD). Fuel Type Current Price Proposed Increase Expected Price Petrol 414.78 71.40 486.18 High-Speed Diesel 414.58 56.46 471.04 The development comes shortly after Pakistan received a $1.32 billion loan tranche, with reports suggesting that the International Monetary Fund (IMF) is pressing the government to pass on the impact of global fuel price fluctuations directly to consumers. Authoriti