ISLAMABAD (Kashmir English): International crude oil prices are going down rapidly, and tension has diffused in the Middle East, making it possible to reduce petroleum product prices significantly in Pakistan.
The federal government is reviewing a cut in fuel prices starting June 20. According to reports, under the new scheme, overall prices of petroleum products could come down by Rs 55 per litre.
The Finance Ministry is studying a petrol price cut of Rs 20 per litre and Rs 36 per litre for high-speed diesel. However, it also mulls an increase in the petroleum levy.
In case of the plan’s approval, consumers would feel relief at the pumps, and it could lower transportation fares and stabilize the prices of necessary items.
International oil markets reacted to diplomatic developments as the US and Iran inked a memorandum of understanding (MoU). Post-agreement, the global oil price continued its downside, and global energy indicators were suggesting more ease. The trend could also seep into the Pakistan market soon.
Current Petrol Prices in Pakistan
Earlier, the High-Speed Diesel (HSD) and petrol prices were reduced, according to the notification issued by the Petroleum Division on Friday.
According to the notification, the price of petrol, also known as Motor Spirit (MS), has been reduced by Rs4 per liter, while High-Speed Diesel (HSD) has been lowered by Rs2 per liter.
The new petrol price has been fixed at Rs373.78 per liter and diesel at Rs378.78.
The revised price of the petroleum product will remain in effect for the next week, starting from June 13, 2026, the notification stated.
