Federal government reduces petrol and high-speed diesel prices by Rs6 per litre and Rs6.80 per litre respectively for next week.
New prices: Petrol at Rs403.78 per litre, HSD at Rs402.78 per litre, effective midnight Friday.
Prices remain in effect for seven days, aligning with current weekly review cycle.
Government sources said reduction considered global crude oil price fluctuations and domestic economic situation.
Decision follows last week’s Rs5 per litre reduction, lowering petrol to Rs409.78 per litre and HSD to Rs409.58 per litre.
Review initiated after US-Israeli strikes on Iran on February 28 triggered fuel crunch globally.
Conflict prompted Iran to close Strait of Hormuz, affecting one-fifth of world oil and gas supplies.
Fuel prices spiked in weeks following conflict, exceeding pre-conflict levels.
Consecutive reductions expected to ease pressure on transportation and commodity costs.