Pakistan Reduces Petrol Price to Rs378 a Day After Historic Hike

Pakistan’s government just announced a big drop in petrol prices, bringing it down to Rs378 per litre starting from midnight. This comes right after a massive hike yesterday that jacked it up by Rs138 per litre.

Prime Minister Shehbaz Sharif spoke to the nation, saying this price cut will stick around for a month as a quick fix to ease the squeeze on people. On top of that, they’ve rolled out tough austerity steps, like halting cabinet members’ salaries and perks for the next six months to show they’re serious about tightening the belt.

This wild swing in prices is bound to shake up transport costs and push inflation around. Officials are keeping a close eye on things over the next few weeks to handle the economic strain on everyday folks.

Before this, finance bigwigs Ali Pervaiz Malik and Muhammad Aurangzeb had revealed diesel prices jumping by Rs184 per litre to Rs520.35, along with petrol hitting a record Rs458.40 per litre. Those spikes had everyone worried about skyrocketing costs for getting around and basic goods.

The new cut is meant to give folks a breather for now, while