Shehbaz Sharif has directed relevant ministries to pass on the benefit of lower international oil prices to the public. Special instructions have been issued to review fuel pricing accordingly.

According to sources, the Finance and Petroleum ministries have started evaluating the possibility of reducing fuel prices. A final decision is expected after monitoring crude oil prices for a couple of days.

Reports suggest that petroleum product prices have already fallen by around 16 percent in the international market after the ceasefire announcement in the Middle East. This global trend is influencing local pricing considerations.

The federal cabinet has also reviewed the situation, including the impact of regional developments and Pakistan’s role in supporting mediation efforts. Officials also discussed petroleum stock levels available in the country during the meeting.

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Earlier, petrol prices in Pakistan had reached a historic high of Rs458.41 per liter on April 3, 2026, causing public concern and criticism. Many citizens expressed frustration over the sharp increase in fuel costs.

In response, the government later reduced the petroleum levy, bringing prices down to around Rs378 per liter and introducing subsidies for motorcycles, transport vehicles, and passenger vehicles to ease the burden.

Despite these measures, experts believe the earlier price hike may still affect inflation, including possible increases in food and construction costs across the country.