Petroleum products prices in Pakistan are expected to fall significantly as a potential Iran-US nuclear deal drives global crude oil prices sharply lower across international markets.
International crude oil prices have fallen five percent following reports of a likely agreement, with US West Texas Intermediate trading at $76 per barrel and Brent crude at $79 per barrel.
The Wall Street Journal reported that Iran could be permitted to resume oil exports under the terms of the anticipated deal, further strengthening the downward trend in global oil prices.
Minister of State for Law and Justice Barrister Aqeel Malik said the Iran-US deal was expected to be signed on Friday, with Pakistan likely announcing a major fuel price reduction on the same day.
Prime Minister Shehbaz Sharif had previously assured the public that relief would be provided as soon as conditions normalised, and reiterated this commitment during a recent National Assembly session.
He stated that the conflict had placed enormous pressure on the economy but that the government had taken every possible measure to shield citizens from the resulting inflation and rising costs.
Before regional tensions escalated, global crude oil was trading at approximately $73 per barrel, but prices climbed to a peak above $126 per barrel at the height of the conflict period.
The first major fuel price increase in Pakistan occurred on 6 March 2026, when the government raised petrol and diesel prices by approximately Rs55 per litre each amid rising global oil costs.
Following that increase, petrol reached approximately Rs321 per litre and diesel rose to Rs335 per litre, both representing the highest levels recorded in Pakistan in recent years.
Prior to the Middle East conflict, petrol was priced at Rs266 per litre in Pakistan, while diesel was available at Rs280 per litre before successive revisions pushed prices significantly higher.
Petrol currently stands at Rs373.78 per litre and diesel at Rs378.78 per litre, reflecting multiple upward and downward revisions made since the onset of the Israel-US strikes on Iran.
