April 10, 2026
ISLAMABAD – Pakistani consumers may finally see relief at the pump as international oil prices have dropped sharply following the US-Iran ceasefire agreement and the reopening of the Strait of Hormuz.
Global benchmark Brent crude fell below $100 per barrel on April 8, 2026, down from over $119 per barrel in March. This decline is directly linked to easing supply fears after Iran agreed to allow tanker traffic through the strategic waterway for the next two weeks.
Industry sources suggest that the government is likely to pass on this relief to consumers in the upcoming weekly price review, expected around April 15, 2026.
Expected Price Reduction
Fuel Type | Current Price (Rs/L) | Expected Reduction (Rs/L) | Projected New Price (Rs/L) |
Petrol (MS 92) | 378.00 | 70 | 353 – 363 |
High Speed Diesel (HSD) | 520.35 | 110-120 | 485 – 500 |
Note: Final prices will be confirmed after OGRA’s notification, expected by April 14, 2026.
Why Prices Are Expected to Drop
- Strait of Hormuz reopened – Iran has allowed safe passage, reducing shipping costs and insurance premiums.
- Global crude prices fell – WTI dropped over 13% to under $100/barrel.
- Government subsidy burden eased – With lower international prices, the government may reduce or remove the recent Rs80 per litre levy cut on petrol.
Official Statement (Expected)
While no formal announcement has been made, a senior official in the Petroleum Division told Reuters on condition of anonymity:
“We are monitoring global markets. If the trend continues, consumers will benefit in the next fortnightly or weekly review.”
What This Means for You
- Motorcyclists & car owners could save Rs 300–500 per month if the reduction holds.
- Transporters may see lower operating costs, which could eventually reduce freight and food prices.
- The relief is conditional – if the ceasefire collapses or oil prices spike again, the reduction may be postponed.
Stay Updated
For the latest official prices, check Petrol Price Pakistan after the government’s announcement.