ISLAMABAD: The federal government is set to carry out its weekly review of petrol prices in Pakistan tomorrow (Friday), with expectations building that rates may come down.
Anticipation of a price cut has increased as international oil prices continue to fall, driven by reports of a possible US Iran peace agreement that could ease tensions in the Middle East, which earlier pushed oil prices to high levels.
Global oil markets showed mixed movement on Thursday after earlier declines, as optimism over the potential deal remained.
By 0611 GMT, Brent crude futures slipped by 26 cents to 94.67 dollars per barrel, while US West Texas Intermediate crude rose slightly by 14 cents to 91.43 dollars per barrel. Both benchmarks had shown little overall change on Wednesday, although trading remained unstable during the session.
Current Petrol Prices in Pakistan
In the last price revision, Prime Minister Shehbaz Sharif announced a significant reduction in petrol and diesel rates effective from April 11.
In a televised statement, he said petrol prices were reduced by about Rs12 per litre and diesel by Rs135 per litre, pointing to changes in global oil prices.
The Petroleum Division later issued a notification confirming a reduction of Rs11.83 per litre in petrol and Rs134.81 per litre in diesel, setting new prices at Rs366.58 and Rs385.54 respectively.
Prices of kerosene were reduced by Rs17.33 per litre to Rs450.15, while light diesel oil was cut by Rs25.31 to Rs369.72.
What’s Expected
The ongoing downward trend in global oil prices along with adequate national reserves, suggests that the government may reduce petrol prices in Pakistan in the upcoming review on 18 April 2026.