The federal government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs5 per litre each, offering consumers relief after weeks of steep increases driven by global oil market volatility.

According to a notification issued by the Petroleum Division, the new rates will take effect from midnight on May 16, 2026, and will remain in place for the coming week.

Following the reduction, petrol will be available at Rs409.78 per litre, down from Rs414.78, while HSD will be priced at Rs409.58 per litre, down from Rs414.58.

The cut comes after a turbulent month for Pakistani consumers. In last week’s review alone, petrol prices were raised by Rs14.92 per litre and HSD by Rs15 per litre.

Over the preceding two reviews, cumulative hikes had reached Rs33.28 per litre on petrol and Rs46.16 per litre on diesel.

The government said the latest revision was made after taking into account international oil prices and the prevailing economic situation.

The government has been reviewing petroleum prices every week since the US-Israeli conflict with Iran began on February 28.

The conflict triggered a global fuel crunch after the closure of the Strait of Hormuz, the critical waterway through which roughly one-fifth of the world’s oil and gas supplies passed during peacetime.

While Friday’s cut is expected to ease some pressure on transportation and commodity costs, fuel prices remain significantly higher than they were a month ago, and the broader inflationary impact of the preceding hikes continues to weigh on consumers across the country.