PM announces major fuel price cut; diesel down by Rs 135, petrol by 12 per liter

ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Apr, 2026) In a major relief to the masses, Prime Minister Shehbaz Sharif on Friday announced a further reduction in fuel prices, slashing diesel by Rs 135 per liter and petrol by Rs 12 per liter, fully passing on the benefit of the decline in international oil prices to the common man.

The Prime Minister, in his televised address to the nation, said that keeping in view the ongoing wheat crushing season, the need to keep commodity prices affordable, and to reduce transport fares, the government has reduced the price of diesel from Rs 520 per liter to Rs385 per liter, while petrol has been brought down from Rs 378 per liter to Rs366 per liter.

He said that the targeted subsidy announced by him, in coordination with the provincial governments to support two-wheelers and transporters, would continue unchanged.

The Prime Minister began his address by highlighting a historic occasion as Islamabad prepares to host peace talks between the United States of America and Iran as the delegations from both countries would arrive here after the two states accepted his request for a temporary ceasefire.

Explaining his decision to cut fuel prices, he said that following the reduction in international oil prices, a proposal was presented to him to pass on only a partial benefit to the people in order to recover the Rs129 billion spent by the government in recent weeks to cushion the impact of high oil prices.

“But I rejected the proposal without thinking for a moment because the people had shown great patience in bearing the burden of inflation. Today, when oil prices have witnessed a downward trend, it was my political and moral responsibility to pass on the impact fully to the people,” he added.

He said, “Our government, together with the provincial governments, never left people alone in the most difficult situation, when prices in the global market became uncontrollable and a storm of difficulties came from everywhere.

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“The ease in economic life of people is the priority of the government,” he said adding, ""Nations progress not only through government decisions but also through the discipline, hard work, unity and collective spirit of the people so therefore let us all unite and work hard day and night with patience and honesty to move forward."

Referring to the regional situation, he said that the United States and Iran had agreed to resolve the issues through talks.

He thanked the leadership of Iran and the United States for this very important development, adding, “Both sides not only agreed to a temporary ceasefire, but also, on my sincere invitation, are coming to Islamabad where negotiations will be held to achieve peace.”

He said hosting the talks was not only an honour for Pakistan but also for the Islamic world and he was thankful to Almighty Allah for this development.

He said Pakistan not only convinced both sides to a ceasefire but also sincerely invited them to Islamabad.

He paid tribute to Deputy Prime Minister Ishaq Dar and his team for their sincere and tireless hard work, and also appreciated Field Marshal Syed Asim Munir and his team and all others for playing a key and historic role in extinguishing the flames of war through tireless work and for convincing the parties to negotiate.

“History will always remember the services of Field Marshal Syed Asim Munir in golden words,” he remarked.

He said, “A temporary ceasefire has been announced, but now the even more difficult stage is that of sustaining the ceasefire and of resolving the entangled issues through negotiations. This is a make or break phase.”

He appealed to the nation to pray for the success of negotiations and restoration of peace.

He said, “both countries will be present in Islamabad on Saturday and the Pakistani leadership will make its utmost effort with sincerity to hold these negotiations and the results are in the hands of Allah.”