Global oil prices have fallen sharply in recent weeks. Brent crude has dropped around 12% from recent highs and was trading near $84 per barrel in late July 2026. This decline raised hopes for cheaper fuel in many countries.
In Pakistan, however, consumers have seen little benefit so far. On July 29, the government slightly raised petrol to Rs 335.81 per litre and diesel to Rs 388.38 per litre. High taxes, the weak rupee, and other local costs continue to keep prices elevated. The government still charges about Rs 110 per litre in taxes on petrol.
Experts say Pakistan’s fuel prices depend not only on international crude rates but also on currency value, import costs, and government levies. As a result, falling global oil prices have not yet translated into major savings for ordinary people or businesses.
A drop in local fuel rates could ease inflation and lower transport costs. For now, the public continues to wait for clearer relief.
Approximate Petrol Prices (USD per litre, recent data):
| Country | Price (USD/Litre) |
|---|---|
| Saudi Arabia | 0.62 |
| China | 0.97 |
| United States | 1.07 |
| India | 1.08 |
| Pakistan | ~1.20 |
