Petroleum Minister Ali Pervaiz Malik has said the government will be able to provide major relief to consumers by reducing diesel prices by more than Rs30 per litre.
“Oil refineries, responding to the government’s request, have decided to provide relief of Rs30-32 per litre. In a few moments, Ogra will unveil its calculations before the public,” the minister said on Wednesday.
Petroleum prices have skyrocketed due to the ongoing US-Israel war on Iran, with diesel currently standing at nearly Rs400 per litre.
A significant portion of the transport sector relies on high-speed diesel. Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.
The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.
“…I am thankful to the refineries,” he said, highlighting that they’ve helped the government during the war by reducing the price of petroleum products.
The minister said that he would hold consultations with the refineries in Karachi on the upgradation of refineries — which has not been done “for more than seven decades”.
This is a developing story and is being updated with further details.
2026-08-19 19:37:00
