Petroleum prices in Pakistan are expected to decrease significantly, with reductions estimated between Rs30 and Rs60 per litre following a sharp decline in international markets.
Prime Minister Shehbaz Sharif has directed finance and petroleum ministries to ensure citizens benefit from falling global oil prices, initiating immediate consultations on domestic fuel price adjustments.
Authorities confirmed that decisions regarding revised fuel prices will be finalized after monitoring crude oil trends for two days, with reductions linked directly to international market movements.
Sources reported petroleum product prices dropped by 16 percent after the ceasefire between Iran and the United States, easing global market pressures and stabilizing supply.
The federal cabinet reviewed petroleum stocks and discussed price adjustments during its meeting, which also addressed the mediation role of Pakistan in facilitating cessation of hostilities in the region.
Petrol prices in Pakistan had previously surged to a record Rs458.41 per litre on April 3, 2026, sparking widespread criticism and public frustration nationwide.
Traders warned of protests against the increase, while rights groups urged government intervention to provide relief, highlighting the severe impact on households and essential economic sectors.
In response, Prime Minister Shehbaz Sharif reduced the petrol levy, lowering prices to Rs378 per litre, and introduced subsidies for motorcycles, goods transport, and passenger vehicles.
Despite these measures, analysts warned the earlier price hike could still trigger lasting consequences, including rising food costs and increased construction expenses.
