Fuel Prices Likely to Drop in Pakistan After Global Oil Decline, PM Shehbaz Issues Directives
Islamabad — Prime Minister Shehbaz Sharif has directed relevant ministries to pass on the benefit of falling global oil prices to the public, raising expectations of a significant reduction in petroleum prices across Pakistan.
According to official sources, the recent de-escalation and ceasefire between the United States and Iran have positively impacted international markets, including oil prices. Following two weeks of relative stability, global crude oil prices have reportedly dropped by around 16 percent.
This decline is expected to translate into relief for Pakistani consumers, with proposals under consideration to reduce petrol and diesel prices by Rs30 to Rs60 per litre. However, a final decision will be made after monitoring Arab crude oil prices over the next two days.
The prime minister has instructed the Ministry of Finance and the Petroleum Division to ensure that the full benefit of lower international prices is passed on to the public. The government is currently reviewing multiple proposals, and a special meeting of the federal cabinet is likely to be convened soon.
Sources further indicated that broader relief measures are also under consideration, including stabilizing transport fares and reducing freight costs to ease inflationary pressure on essential goods.
Prime Minister Shehbaz Sharif noted that oil prices had surged earlier due to regional tensions, but the recent ceasefire has improved the outlook. He expressed hope that the downward trend in prices would continue, providing much-needed relief to citizens.
