Petrol prices may see major hike from Feb 1
ISLAMABAD: Based on current international market trends, Pakistan’s petroleum prices are expected to remain stable or witness a small reduction of Rs5 to Rs15 per litre in the next review, provided global crude prices continue to trade below recent highs and the rupee remains stable against the US dollar. This is an estimate based on current market conditions and not an official government forecast.
Any major escalation in Middle East tensions or a sudden rise in crude oil prices could change the outlook. For now, consumers are likely to benefit from relatively lower fuel prices compared to earlier this month.
The federal government recently announced a major reduction in fuel prices, lowering petrol by Rs74 per litre and diesel by Rs67 per litre. According to the latest official rates effective from June 20, 2026:
| Fuel Type | Current Price (Per Litre) |
|---|---|
| Petrol (MS) | Rs299.50 |
| High-Speed Diesel | Rs311.47 |
| Kerosene Oil | Rs233.90 |
| Light Diesel Oil | Rs199.98 |
Global crude oil prices have fallen significantly in recent days due to improving prospects for peace between the United States and Iran and the reopening of shipping routes through the Strait of Hormuz. Brent crude has slipped into the mid-$70s per barrel range after previously trading near $90-$100 during periods of heightened tensions.
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