The federal government, under Prime Minister Shehbaz Sharif’s leadership, is expected to announce a significant reduction in petrol prices — up to Rs12 per litre — starting April 16.
If approved, petrol rates would fall from the current Rs254.63 to around Rs242–243 per litre. High-speed diesel (HSD) could also see a cut, dropping from Rs258.64 to roughly Rs248–250 per litre.
This anticipated relief comes amid a sharp decline in global oil prices. Brent crude has plunged to $60.12 per barrel from $74.95 earlier this month — a drop of over $14 — driven by reduced global demand, economic slowdowns, and a weaker commodities outlook.
A senior official from the Oil and Gas Regulatory Authority (Ogra) confirmed that a recommendation for the price cut has been prepared and will soon be submitted to the Ministry of Finance. The final decision, pending approval from the finance ministry and the Prime Minister’s Office, is expected to be implemented at midnight on April 16.
The expected reduction could ease financial pressure on consumers and businesses alike, offering a rare reprieve amid rising costs across the economy.
