Petrol and diesel prices in Pakistan are anticipated to decrease by as much as Rs80 per litre, a move prompted by the recent decline in global oil prices following a ceasefire agreement between Iran and the United States. Prime Minister Shehbaz Sharif has issued directives to relevant ministries to ensure that the benefits of this international price drop are passed on directly to the public.
Preliminary work on revising the fuel prices has been completed, with the Oil and Gas Regulatory Authority (OGRA) preparing to submit its recommendations to the Petroleum Division. The final decision on the new petrol and diesel rates will be announced only after receiving the Prime Minister’s approval. If sanctioned, the revised prices are expected to come into effect on April 11, 2026.
It is noteworthy that in response to previous record hikes in petroleum prices, both federal and provincial governments had already introduced relief packages targeting various sectors. These included motorcyclists, rickshaw drivers, goods transport operators, public transport services, and farmers, aiming to mitigate the financial burden on these groups.
In a significant development, Federal Minister for Culture and National Heritage Huzaifa Rehman confirmed that efforts are underway to provide relief on fuel prices following the Prime Minister’s instructions. He emphasized that the Prime Minister is fully aware of the economic challenges faced by citizens and has ordered an immediate reduction in petrol and diesel prices to reflect the global market trends.
Rehman also highlighted that the previous increases in petroleum prices were implemented reluctantly, acknowledging the hardship caused. Additionally, special measures are being introduced to curb inflation in light of the expected fuel price cuts. The minister warned that strict action will be taken against any individuals or entities found profiteering following the reduction in prices.
