Government Signals Possible Fuel Price Cut After US-Iran Agreement

ISLAMABAD: The federal government has signalled that petroleum prices may be reduced in the next review after international oil prices eased following the reported US-Iran agreement.

Officials say any relief for consumers will depend on global crude rates, the rupee-dollar exchange rate, and existing taxes on petroleum products. The final decision will be announced through an official notification after the price review.

Pakistan has already seen a recent cut in fuel prices. Petrol was reduced by Rs4 per litre to Rs373.78, while high-speed diesel was cut by Rs2 per litre to Rs378.78, effective June 13, 2026.

The latest decline in global oil prices has raised hopes that the government may pass on further relief to the public. Lower fuel prices could help reduce pressure on commuters, transporters, and businesses already facing high operating costs.

Petroleum prices directly affect transport fares, food supply costs, and daily household expenses. A further reduction in petrol or diesel rates may provide short-term relief to consumers, especially in urban areas where fuel use remains high.

However, officials have warned that the reduction is not guaranteed. Any change will depend on international market trends and fiscal space available to the government.

The next petroleum price notification will confirm whether the expected cut is implemented.

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