Overview
- Prime Minister Shehbaz Sharif cut petrol by Rs80 to Rs378 for about a month Friday after an overnight jump to Rs458.40 triggered street protests and long queues.
- High‑speed diesel stays at Rs520.35 per litre after the hike, with the diesel levy scrapped while the petrol levy was raised as part of the pricing shift.
- Officials announced free rides on state‑run buses for 30 days in Islamabad and Punjab, plus targeted help that includes Rs100 per litre for motorcycles and rickshaws capped at 20 litres a month and Rs1,500 per acre for small farmers.
- The government says a spike in global oil from the Middle East conflict and Strait of Hormuz disruptions forced the move after roughly Rs129 billion in recent fuel subsidies left little fiscal room under the IMF program.
- Transport groups warn of steep fare and freight increases, economists expect fresh inflation pressure on food and daily travel, and relief will likely feel thin unless global prices fall.