Pakistani Prime Minister Shehbaz Sharif announced a reduction of Rs32.12 per litre in high-speed diesel (HSD) prices on Friday, bringing the ex-depot rate down to Rs353.42 per litre for the fortnight ending April 24. The cut, which represents an 8.3% decline, follows easing global oil prices linked to a US-Iran ceasefire agreement that reopened the Strait of Hormuz — a critical shipping chokepoint through which a large share of the world's oil passes. Petrol prices were left unchanged at Rs366.58 per litre, though further reductions across fuel types are expected next week as the full impact of the global price drop is factored in; diesel is considered Pakistan's most inflationary fuel due to its central role in freight transportation.