ISLAMABAD: The recent US-Iran peace agreement is anticipated to trigger a sharp decrease in petrol prices across Pakistan. While discussions are ongoing regarding the exact amount of reduction, various proposals are currently under review.
The positive repercussions of the historic deal are already evident in the global oil markets, where prices have fallen by approximately 7%. US crude oil has declined to $76 per barrel, and Brent crude from the UK is trading at around $81 per barrel.
This global decline has sparked hopes of substantial relief for Pakistani consumers. Sources suggest that, in response to the international market downturn, local petrol and diesel prices could potentially be reduced by as much as Rs. 40 per liter.
However, officials within the Petroleum Division have clarified that no formal plans or official documents regarding fuel price cuts have been prepared so far. A final decision will not be made before the weekly revision of fuel prices, but high-level discussions are actively ongoing. Prime Minister Shehbaz Sharif is reportedly eager to deliver the maximum possible relief to the public.
Sources further indicated that any adjustments will adhere strictly to the existing formula, and an official announcement will follow once the evaluation process is complete. It is also expected that the Prime Minister himself will unveil the new petroleum rates once they are finalized.
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