A major drop in petroleum prices has brought immediate relief for commuters and businesses, as transport fares have been significantly reduced across Pakistan.

Following the government’s announcement, public transporters in Lahore reduced fares by 25 percent, with several private transport companies also implementing similar cuts. Mazda truck fares have also been lowered by 25 percent, providing relief to goods carriers and traders.

Meanwhile, goods transporters announced an even bigger reduction, slashing fares by up to 40 percent nationwide. According to the Pakistan Goods Transport Association, freight charges have been reduced immediately, welcoming the government’s decision to cut diesel prices.

The development comes after Prime Minister Shehbaz Sharif approved a significant decrease in petroleum product prices. A notification issued by the Petroleum Division confirmed the new rates.

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Petrol prices have been reduced by 11 rupees 83 paisas per litre, bringing the new price to 366 rupees 58 paisas per litre. Diesel prices saw a massive cut of 134 rupees 81 paisas per litre, with the new rate set at 385 rupees 54 paisas per litre.

Kerosene oil prices were also reduced by 17 rupees 33 paisas per litre, now costing 450 rupees 15 paisas. Light diesel oil has become cheaper by 25 rupees 31 paisas per litre, with a new price of 369 rupees 72 paisas.

The revised prices came into effect at midnight, offering widespread economic relief.