Expected Petrol Price in Pakistan from June 20 amid big dip in Crude Oil Rates

ISLAMABAD – Pakistanis are hoping for a considerable cut in petrol and diesel prices in the coming days amid a sharp decline in international crude oil prices after the US-Iran ceasefire. As per industry insiders, petroleum product prices could decrease by more than Rs40 per litre if the downward trend in global oil markets persists and is reflected in the upcoming domestic price review. However, officials in the Petroleum Division cautioned that no final pricing calculation has yet been completed. Fuel Current Price Estimated Cut Exp. Price Super Petrol 373.78 40.00 333.78 Diesel 378.78 40.00 338.78 With the current prices standing at Rs373 per litre for petrol and Rs378 per litre for diesel, a Rs40 reduction would bring prices down to around Rs333 and Rs338.78 per litre, respectively. They said the government has not made any decision regarding an early reduction in fuel prices before the scheduled review, adding that consultations are currently underway. Several proposals are being considered ahead of Friday’s assessment, with the final decision to be made under the petroleum pricing mechanism in force. Officials said the revised prices would be announced after the completion of the required calculations and approval process. Prime Minister Shehbaz Sharif directed relevant authorities to explore ways to ensure that any relief resulting from lower international oil prices is passed on to consumers. The development comes as global crude oil prices have recorded a notable decline, with international benchmarks falling by more than seven percent. US crude was trading at around $76 per barrel, while Brent crude stood near $81 per barrel, according to market data. Analysts say the drop in international oil prices has strengthened expectations of a substantial reduction in domestic petroleum prices, although the final impact will depend on exchange rate movements, taxation, import costs and the government’s pricing formula. An official announcement regarding the next fu