Pakistan’s government has announced a reduction in petrol and high-speed diesel (HSD) prices, effective August 8th. Petrol will now cost Rs327.62 per litre, down by Rs2.20, while HSD will be priced at Rs380.86 per litre, a decrease of Rs1.50. Despite the reduction, the government continues to impose significant taxes, levying Rs114 per litre on petrol and Rs100 per litre on diesel. These price adjustments follow previous peaks in April, with diesel reaching Rs520.35 and petrol hitting Rs458.41 per litre, driven by escalating tensions related to the US-Iran conflict. The shift comes after a decision to fix fuel prices daily, responding to volatility in international markets. The move aims to provide some relief to consumers amid ongoing geopolitical instability and potential oil supply disruptions.