Pakistan, April 4 -- Prime Minister Shehbaz Sharif has announced a major reduction in petrol prices, cutting the rate by Rs80 per litre in a bid to ease the financial burden on citizens amid rising global oil costs.

In a televised address, the premier said the new petrol price has been set at Rs378 per litre for one month. The reduction comes after a corresponding decrease in the petroleum levy, forming part of a broader relief package aimed at cushioning the impact of global inflation on the public.

He noted that Pakistan, like many other countries, is facing economic strain due to surging international oil prices. "The entire world is experiencing inflationary pressure, and Pakistan is also feeling its effects," he said, acknowledging...