Petroleum prices likely to remain stable or decline further in next review

ISLAMABAD: Petroleum prices in Pakistan are expected to remain stable or witness a further reduction of Rs5 to Rs15 per litre in the next price review, driven by easing trends in the international oil market.

According to market estimates, the outlook remains favorable provided global crude oil prices continue to stay below recent highs and the Pakistani rupee maintains stability against the US dollar. However, analysts caution that the projections are based on current market conditions and do not constitute an official government forecast.

Experts note that any major escalation in tensions in the Middle East or a sudden spike in international crude oil prices could alter the current outlook and affect future fuel prices.

The federal government recently announced a significant reduction in petroleum prices, lowering petrol by Rs74 per litre and high-speed diesel by Rs67 per litre, providing substantial relief to consumers.

Under the rates effective from June 20, 2026, petrol is being sold at Rs299.50 per litre, high-speed diesel at Rs311.47 per litre, kerosene oil at Rs233.90 per litre, and light diesel oil at Rs199.98 per litre.

Meanwhile, international oil prices have declined considerably in recent days amid improving prospects for peace between the United States and Iran and the reopening of shipping routes through the Strait of Hormuz. Brent crude oil has fallen to the mid-$70 per barrel range after previously approaching $90 to $100 per barrel during periods of heightened geopolitical tensions.

If current global market trends persist, consumers in Pakistan could continue to benefit from relatively lower fuel prices compared to earlier this month.