Petroleum product prices in Pakistan are expected to be reduced once again from January 16, offering continued relief to consumers after a major cut at the start of the New Year. The proposed revision, however, will take effect only after final approval from Prime Minister Muhammad Shehbaz Sharif.
According to official estimates, the price of petrol may be lowered by Rs. 4.59 per litre, while high-speed diesel is expected to see a reduction of Rs. 2.70 per litre. Officials said kerosene oil prices could fall by Rs. 1.82 per litre, whereas light diesel oil may be reduced by Rs. 2.08 per litre.
The expected cut follows a significant reduction announced on January 1, 2026, when the federal government slashed petrol prices by Rs. 10.28 per litre for the first fortnight of the year. At that time, petrol prices were brought down from Rs. 263.45 to Rs. 253.17 per litre.
Similarly, the price of high-speed diesel was reduced by Rs. 8.57 per litre to Rs. 257.08, providing relief to transporters, businesses, and consumers amid inflationary pressures. The government had described the earlier reduction as part of its efforts to ease the cost of living.
Officials said the latest price revision has been calculated after reviewing trends in international oil markets and assessing domestic economic indicators. They added that a formal notification will only be issued once the prime minister gives final approval.
Global oil prices have declined in recent days, contributing to the proposed cut. On January 11, international petrol prices dropped by $2.74 per barrel, while lower premiums, reduced customs duties, and exchange rate adjustments further decreased ex-refinery prices.
