According to a notification issued by the Petroleum Division, the revised prices came into effect on June 13 and will remain applicable for one week.
Following the latest adjustment, the price of petrol has been reduced from Rs377.78 to Rs373.78 per litre, while the price of high-speed diesel has been cut from Rs380.78 to Rs378.78 per litre.
The government had also reduced petrol prices by Rs4 per litre last week, while keeping the price of diesel unchanged.
Petroleum prices are currently being reviewed on a weekly basis due to volatility in global energy markets following the conflict involving the United States, Israel and Iran that began on February 28.
The conflict has disrupted global energy supplies and contributed to uncertainty in international oil markets, particularly after the closure of the Strait of Hormuz — a strategic maritime route through which nearly one-fifth of the world s oil and gas shipments pass during normal conditions.
Petrol is widely used by owners of motorcycles, rickshaws and private vehicles, making its price a key factor affecting household transportation costs. Any increase in petrol prices generally places additional financial pressure on middle- and lower-income families.
High-speed diesel, meanwhile, is the primary fuel for the country s transport and agricultural sectors. It powers trucks, buses, trains and heavy machinery, including tractors, tube wells and threshers.
As a result, changes in diesel prices have a direct impact on transportation costs, agricultural production and the prices of essential goods, making diesel one of the most significant contributors to inflationary trends in the economy.
The latest reduction is expected to provide some relief to consumers and businesses facing higher living and operating costs.
