ISLAMABAD (Dunya News) – Pakistan has announced a reduction in diesel prices by Rs 32.12 per litre, bringing the new rate down from Rs 385.54 to Rs 353.43, in what officials describe as a relief step following the easing of global oil supply pressures linked to the reopening of the Strait of Hormuz.
The revised fuel prices come at a time when international oil markets have stabilised after weeks of volatility caused by disruptions in one of the world’s most critical energy chokepoints.
The Strait of Hormuz, which handles nearly one-fifth of global oil and liquefied natural gas shipments, had faced severe tension and partial disruption during the recent regional conflict, triggering sharp spikes in fuel costs worldwide.
The government said the downward revision in diesel prices reflects improved international supply conditions and a softening of crude oil rates in global markets. Authorities noted that Pakistan, which relies heavily on imported fuel, is particularly sensitive to fluctuations in Middle Eastern shipping routes, especially through the Strait of Hormuz.
The price cut follows earlier sharp increases in fuel costs during the height of the crisis, when Pakistan saw some of its steepest petroleum price hikes in recent history due to global supply shocks. With the reopening of the key maritime route, oil flow has begun to normalise, reducing pressure on import costs and allowing partial relief for domestic consumers.
Market observers link the easing trend to renewed shipping activity and reduced risk premiums on crude oil, which had previously surged amid fears of prolonged disruption.
Officials have stated that the government continues to monitor global energy markets closely, with future adjustments expected to reflect changes in international oil trends and currency movements.