ISLAMABAD – All eyes are now on the government’s upcoming announcement regarding petrol prices in Pakistan after recent diesel price revision, as global crude oil prices have plunged by around 10%, sliding to nearly $84–$85 per barrel. The sharp decline in international oil markets has raised strong expectations of further fuel relief for inflation-weary consumers.
Sharif-led federal government is all set to conduct its weekly petroleum price review in Pakistan tomorrow, and the atmosphere is already charged with anticipation as citizens hope for yet another major cut in fuel prices.
Sources familiar with development said People can expect petrol price to be around Rs350 per litre in upcoming price review.
In the previous price adjustment effective April 11, Prime Minister Shehbaz Sharif announced reduction in fuel prices, calling it a reflection of falling global oil costs. At that time, petrol prices were cut by around Rs12 per litre, while diesel saw a dramatic reduction of nearly Rs135 per litre.
Expectations of cheaper petrol are rapidly rising as international crude oil markets continue to soften. The decline is being fueled by growing speculation of a possible US–Iran peace breakthrough, a development that could cool tensions in the Middle East—long considered one of the biggest drivers of volatile oil prices worldwide.
Current Petrol Price in Pakistan
| POLs | Price |
|---|---|
| Petrol | 366.58 |
| Diesel | 353.42 |
Despite recent fluctuations, oil prices have shown a generally downward trend. On the international market, Brent crude futures hovers around 90.38, while US West Texas Intermediate (WTI) crude stayed at $83.85.
Relief for Global Energy Markets as Oil crashes 10% to $84 after Hormuz reopens
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