Petrol Prices Likely to Drop in Pakistan from June 1 Amid Global Oil Slump
ISLAMABAD, May 25 — The federal government is expected to announce a reduction in petrol and diesel prices from June 1, 2025, as global oil markets show signs of softening amid speculation of increased output by OPEC+ nations.
The anticipated drop in domestic fuel prices comes as Brent crude and U.S. WTI benchmarks declined slightly, reflecting investor concerns over growing supply.
Global Oil Market Overview
According to a report by Reuters, the oil market saw modest fluctuations on Tuesday:
- Brent crude fell by 12 cents (0.19%) to $64.62 per barrel, before recovering slightly to $64.85.
- West Texas Intermediate (WTI) dropped by 15 cents (0.24%) to $61.38, later inching up to $61.59 per barrel.
Market analyst Daniel Hynes from ANZ stated that oil prices edged lower as the market awaited signals from OPEC+, which may announce a production hike in its May 31 meeting.
OPEC+ Production Decision Looms
OPEC+ — a coalition of major oil-producing countries — is expected to revisit voluntary output cuts during its upcoming meeting. Reports suggest the bloc might increase production by 411,000 barrels per day starting July, which could further ease pressure on global oil prices.
The group’s decision to meet a day earlier than planned signals urgency in recalibrating its production strategy amid global economic uncertainties and reduced demand forecasts.
Current Petrol & Diesel Prices in Pakistan
Despite the recent dip in international oil rates, petrol and diesel prices in Pakistan remain high, drawing criticism from consumers and trade associations.
As of May 25:
- Petrol is priced at Rs252.63 per litre
- High-Speed Diesel (HSD) is priced at Rs254.64 per litre
These prices followed a modest reduction of Rs2 per litre for diesel on May 16. However, no significant cuts have been made in response to the global downtrend, which many experts and consumer rights groups have flagged as disproportionate.
Public Expectations and Government Response
With inflation still impacting daily essentials and transportation costs, the public is eagerly awaiting relief. A price reduction on June 1 could offer temporary financial ease to motorists and transporters across the country.
Government sources suggest that a price revision is likely, though final decisions depend on OPEC+ outcomes and regional oil import costs.
Stay tuned for official confirmation from the Ministry of Finance or the Oil and Gas Regulatory Authority (OGRA) ahead of the June 1 pricing announcement.
