PM Shehbaz Slashes Petrol Levy by Rs. 80 Petrol Price Drops to Rs. 378/Litre

In a swift reversal, Prime Minister Shehbaz Sharif announced late Friday night that the petroleum levy would be slashed by Rs. 80 per litre, bringing petrol prices down from Rs. 458 to Rs. 378 per litre, just one day after the Pakistan petrol prices increased on April 2nd 2026 in an unprecedented hike that triggered nationwide outrage. Addressing the nation in a seven-minute televised speech, the PM cited the ongoing US-Israel war on Iran and Iran’s closure of the Strait of Hormuz as the primary drivers behind the sharp surge, expressing hope that prices would return to pre-war levels once the conflict subsides. As part of broader austerity measures, PM Shehbaz also announced that all federal cabinet members would forgo their salaries for the next six months. While the Rs. 80 per litre relief is a welcome step for residents and commuters across Bahria Town Karachi, Lahore, Rawalpindi, and Islamabad, petrol at Rs. 378/litre still remains significantly higher than the pre-hike price of Rs. 321.17 per litre and Bahria Town Listings will continue to track all updates for any further revisions as the situation develops.