PM Shehbaz Sharif Announces Petrol Price Reduction Today

Updated: 8:20 PM PKT — June 19, 2026

The government is passing on the full benefit of lower international oil prices to the public, a move linked to the recent peace agreement between the United States and Iran. The reduction is expected to ease inflationary pressures by lowering transportation and logistics costs for households, businesses, public transport, and the agriculture sector.

The price cut offers substantial savings for consumers. Owners of popular motorcycles will save over Rs 600 on a full tank, while car owners will see even greater relief. A Toyota Corolla owner will save over Rs 4,000 per refueling, with drivers of larger SUVs like the Kia Sportage and Toyota Land Cruiser saving nearly Rs 4,600 and over Rs 7,300, respectively.

Updated: 6:16 PM PKT — June 19, 2026

The government has announced a significant reduction in fuel prices, with petrol decreasing by Rs 74 per litre and high-speed diesel by Rs 67 per litre.

Following the cut, the new price for petrol will stand at Rs 299.78, down from Rs 373.78, while diesel will be priced at Rs 311.78, reduced from Rs 378.78 per litre. An official notification for the new prices is still pending.

In a statement, Prime Minister Shehbaz Sharif said the government was passing on the full benefit of declining international oil prices and an improved regional economic situation. He linked the relief to easing Middle East tensions following the US-Iran peace deal and the restoration of shipping in the Strait of Hormuz, thanking the public for their resilience during the period of high fuel costs.