ISLAMABAD, June 19, 2026: The government has made a historic reduction in petroleum product prices, providing significant relief to consumers across Pakistan amid changes in global oil markets.

Prime Minister Shehbaz Sharif, while announcing the new petroleum product prices, said that improvement in the regional economic situation and a decline in global oil prices are being directly passed on to the public. Under the latest revision, petrol price has been reduced by Rs74 per litre and diesel by Rs67 per litre.

According to a statement issued by the Prime Minister’s Office, the decision follows improved economic conditions in the region and a decrease in international oil prices. The prime minister said the government is fulfilling its commitment to provide relief to the public.

After the revision, petrol price has decreased from Rs373.78 per litre to Rs299.78 per litre, while diesel has been reduced from Rs378.78 per litre to Rs311.78 per litre.

The prime minister said the public supported the government during difficult economic conditions, for which he expressed gratitude.

He said the government understands public hardship and that citizens showed patience and restraint during challenging times. He added that the government worked from the beginning of the crisis to reduce oil prices as much as possible using available resources.

He said the federal government used Rs129 billion from development funds and savings generated through austerity measures to provide relief to the public during periods of global price increases.

He further stated that during a period when some countries faced fuel rationing, Pakistan avoided such measures due to better planning. He said there were no fuel queues, no shortages, and no disruption in petroleum supply.

The prime minister added that both federal and provincial governments worked in coordination to stabilize the economy, and he thanked provincial chief ministers for their cooperation.

He said the government will continue efforts to maintain economic stability and further reduce inflation through fiscal discipline and policy measures.

He also said that during regional tensions, Pakistan played a role in supporting peace efforts, and referenced broader diplomatic developments that contributed to regional stability.

Earlier, the prime minister had announced the reduction while addressing the National Assembly.

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