The federal government is likely to review the prices of petroleum products, including petrol and diesel, in its upcoming decision. Officials are expected to announce the new fuel prices after reviewing global oil market trends.

Sources say the Petroleum Division has completed an assessment of international petroleum prices over the past week. The review suggests that petrol prices in Pakistan may decrease by around Rs11 per litre.

However, the situation may be different for high-speed diesel. According to sources, the price of diesel could increase significantly by about Rs56 per litre if the government approves the proposed adjustment.

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Officials said the final summary prepared by the Oil and Gas Regulatory Authority (OGRA) will be discussed with Prime Minister Shehbaz Sharif. The prime minister will make the final decision on whether to change the prices of petrol and diesel.

Sources also revealed that the governments of Punjab and Sindh have not yet given a final response regarding subsidies on petroleum products. Provincial authorities are reportedly asking the federal government to provide subsidies through petroleum levy adjustments.

Provincial officials argue that their financial pressures have increased due to rising regional tensions and higher administrative costs. Because of these challenges, they want additional financial support before agreeing to any subsidy plan.

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Earlier reports had also suggested that fuel prices in the country could rise dramatically, with petrol potentially reaching around Rs550 per litre and diesel up to Rs750 per litre if global prices continue to surge.

It is worth noting that the government had earlier increased petrol and diesel prices by Rs55 per litre due to changing global market conditions. After that increase, the authorities decided twice to keep the prices unchanged.