Petroleum prices in Pakistan are expected to decline by as much as Rs70 per liter following a temporary ceasefire between the United States and Iran, which has triggered a sharp drop in global oil prices.
Oil prices fell below $100 per barrel on Wednesday after former US President Donald Trump announced that he had agreed to a two-week ceasefire with Iran. The agreement is reportedly contingent upon the immediate and safe reopening of the Strait of Hormuz.
In the international market, Brent crude futures dropped by $14.51, or 13.3%, to $94.76 per barrel as of 0330 GMT. Meanwhile, US West Texas Intermediate (WTI) crude fell by $17.16, or 15.2%, to $95.79 per barrel.
Trump’s announcement came shortly before a deadline he had set for Iran to reopen the Strait of Hormuz, through which nearly 20% of the world’s oil supply passes, or face potential attacks on its civilian infrastructure.
The sharp decline in global oil prices is expected to provide relief to Pakistani consumers, who have recently faced record-high fuel costs.
As of April 8, 2026, the price of petrol in Pakistan stands at Rs378.41 per liter. The government had earlier reduced the price by Rs80 per liter following strong public backlash against a proposed increase that would have pushed rates beyond Rs458 per liter. However, high-speed diesel (HSD) continues to remain significantly elevated at Rs520.35 per liter.
Current Fuel Prices
Petrol (Super): Rs378.41 per liter
High-Speed Diesel (HSD): Rs520.35 per liter
Kerosene Oil: Rs467.48 per liter
Light Diesel Oil (LDO): Rs395.03 per liter
LPG: Rs304.12 per kg
