Prime Minister Shehbaz Sharif has announced a major relief for the public, cutting the price of high-speed diesel (HSD) by Rs32.12 per litre.
According to the Petroleum Division, the new diesel price has been set at Rs353.43 per litre, down from Rs385.54. However, petrol prices will remain unchanged for the next seven days starting April 18.
The prime minister said the government is committed to passing on the full benefit of declining international oil prices to the public as quickly as possible.
This move follows a sharp drop in global oil markets after Iran signaled that the Strait of Hormuz would remain open during the ongoing ceasefire period. U.S. President Donald Trump also stated that Iran had agreed not to block the critical oil route.
As a result, Brent crude prices fell nearly 13%, while U.S. crude dropped over 14%, marking one of the steepest declines in recent months.
Analysts say the de-escalation in regional tensions has eased fears of supply disruption, leading to immediate relief in global oil prices — a benefit now being reflected in Pakistan’s diesel rates.