Islamabad : Within hours from opening of Strait of Hormuz and drop in the rates of Brent in the global market, Pakistan slashed diesel price by Rs 32.12 a liter. With the fresh cut in rates diesel price lowered from Rs 385.41 to Rs 353.29 a litre .
Prime Minister , Shahbaz Sharif , cleared reduction in diesel rates from Turkiye to pass on the benefits of lowering Brent prices in global market to give relief to the masses in Pakistan.
Brent rates reduced by 11.12 percent to drop to $ 82 a barrel due to opening of the Strait of Hormuz on Friday.
Iran had opened the Strait of Hormuz , resulting in major drop in the rates of Brent. The world welcomes reopening of the Strait of Hormuz.
As per the Prime Minister Office (PMO) the rates of petrol will stay unchanged at least for now.
Prime Minister Shahbaz Sharif , promised to the people of Pakistan that his government will quickly pass on the benefit of lowering oil prices in the international market.