Pakistanis could soon see a significant drop in fuel prices, with petrol expected to fall by Rs 30 to Rs 60 per litre following a sharp decline in international oil rates after the temporary ceasefire between Iran and the United States.

Prime Minister Shehbaz Sharif has directed relevant ministries to ensure that the benefits of falling global petroleum prices reach the public immediately. Government sources indicate that the finance and petroleum ministries are reviewing current fuel rates and will finalize reductions after monitoring crude prices for the next two days.

The recent ceasefire has already caused global petroleum prices to fall by approximately 16 percent. During a recent federal cabinet meeting, ministers discussed adjustments to domestic fuel prices and assessed the country’s petroleum stocks to ensure smooth supply.

Petrol prices in Pakistan had hit an unprecedented high of Rs 458.41 per litre on April 3, 2026, prompting widespread criticism and public protests. In response, the government previously reduced the petrol levy, bringing prices down to Rs 378 per litre, while also offering subsidies for motorcycles, goods carriers, and passenger vehicles.

Officials suggest that further reductions could provide immediate economic relief, lower transport and food costs, and ease public frustration over the historic price surge.

The move follows Pakistan’s mediation in the Middle East truce, which global observers have described as a “fragile” ceasefire, with the United States urging Iran to negotiate in good faith for a long-term agreement.