Petrol prices in Pakistan expected to see a major relief as the federal government, led by Prime Minister Shehbaz Sharif, is likely to slash fuel rates by up to Rs12 per litre starting April 16. If implemented, this would bring the price of petrol down from the current Rs254.63 per litre to around Rs242–243 per litre, while high-speed diesel (HSD) may drop from Rs258.64 to approximately Rs248–250 per litre.
This anticipated decrease in petrol prices in Pakistan comes on the back of a steep decline in global oil rates. Brent crude has fallen sharply to $60.12 per barrel, compared to $74.95 earlier this month—marking a massive drop of over $14 in just a few weeks. Experts say this drop is due to falling global demand, economic slowdowns in major economies, and an overall negative outlook in the commodities sector.
According to a senior official from the Oil and Gas Regulatory Authority (Ogra), the final recommendation for the fuel price cut prepared and will submitted to the Ministry of Finance shortly. The new fuel prices, once approved by the finance ministry and the Prime Minister’s Office, expected to take effect from midnight on April 16.
In recent months, petrol prices in Pakistan have remained high due to volatile international markets and the continuous depreciation of the Pakistani rupee. However, this possible reduction may bring much-needed relief for the inflation-stricken public, especially in the transport and logistics sectors.
Fuel prices in Pakistan reviewed every 15 days, based on Ogra’s recommendations. These are calculated using factors like global crude prices, currency exchange rates, and import parity prices. The final decision, however, remains with the federal government, which also considers revenue goals and commitments made to the IMF regarding the petroleum levy.
This expected price cut in petrol prices in Pakistan could be a welcome development for both consumers and businesses as they struggle with rising costs across the board.
 may drop from Rs258.64 to approximately Rs248–250 per litre.){kind=link}