Islamabad, May 14, 2025 — The Federal government is all set to slash down the petrol and diesel prices for the second half of May 2025, as relief to consumers following the trending current oil prices worldwide.

Reduction in Petrol & Diesel Prices

The Oil and Gas Regulatory Authority is planning a summary to reduce the prices of petrol and high-speed diesel (HSD) by about Rs. 3.5 and Rs. 7 respectively (according to reports). The reductions in prices are based on a decline in international prices of petrol by $1.5 per barrel within the past two weeks and a decline in the prices of diesel by $3 per barrel over the same period.

The ex-depot prices are presently at Rs. 252.63 a litre for petrol and Rs. 256.64 a litre for HSD. When the proposed cuts are given the green light, the new prices would be Rs. 249.13 for petrol and Rs. 249.64 for diesel per litre.

The final decision would be taken after the consultations that would occur between the Ministry of Finance and Prime Minister Shehbaz Sharif. The new prices are likely to be released on 15th May and come into effect on 16th May 2025.

This expected drop is therefore a decrement from an already reduced price of Rs. 2 per litre for both petrol and diesel, which was effected on the 1st May, 2025. The continuous fall in fuel prices is viewed as a positive trend geared to ease the inflationary burden on the population.

The degree of relief that is to be passed on to the consumers will be dependent on the government’s decision on the existing tax rates and levies on petroleum products. Any changes to these would affect the final retail prices.

The public is waiting for the official announcement for further relief in the fuel costs during the time of continued economic difficulties.