Petrol and diesel prices in Pakistan are likely to decrease in the coming days as global oil prices continue to fall. The possible progress in US-Iran peace talks has eased tensions in the Middle East and brought some relief to the international oil market.
According to sources, the Oil and Gas Regulatory Authority (OGRA) has completed its preliminary calculations for the second half of May 2026. The authority has recommended a reduction of Re 1 per litre in petrol and Rs 2 per litre in diesel prices. The final decision now rests with Prime Minister Shehbaz Sharif, who is expected to announce the new rates soon.
However, officials have warned that any increase in the petroleum levy by the government could reduce or cancel this relief. The Finance Ministry is currently reviewing different options to balance the budget while giving maximum relief to the public.
Finance Minister Muhammad Aurangzeb said the government is conscious of the difficulties faced by common citizens due to inflation. Any reduction in fuel prices would help lower transportation costs and bring slight relief in daily expenses.
This possible price cut comes after several months of high fuel prices. Consumers are hoping for good news in the next price review, expected around May 15.
