The official notification for the new petroleum prices is yet to be issued. Once notified, the price of petrol will stand at Rs299.78 and high-speed diesel (HSD) at Rs311.78, down from Rs373.78 and Rs378.78 per litre, respectively. In a statement from his office, the premier said the government was passing on the benefit of an improved regional economic situation and declining oil prices. “We are now fulfilling the promise we made to the nation,” the premier said in the statement. Speaking in the National Assembly earlier in the day, PM Shehbaz vowed a “significant” reduction in fuel prices, as tensions eased in the Middle East following the US-Iran peace deal and the restoration of energy shipping in the Strait of Hormuz. “The price of petrol is being reduced by Rs74 per litre, while diesel is being reduced by Rs67 per litre,” the premier’s statement said. “We fully understand the hardships faced by the people. You demonstrated extraordinary patience and resilience during these difficult circumstances,” PM Shehbaz noted. He extended his sincere appreciation to the public for “standing by the government during these challenging times”.