Islamabad, April 10, 2025 – A wave of anticipation is sweeping across Pakistan as citizens eagerly await a substantial reduction in petroleum prices, following a dramatic decline in global crude oil rates.
With international petroleum markets experiencing a significant drop, hopes are high that the federal government will pass on the benefit to local consumers.
The benchmark Brent crude oil price has plummeted from $74.74 per barrel on March 31 to just $60.12 as of the latest trading session. Although a minor rebound was recorded on April 1 and 2 — briefly pushing prices to $74.95 — the overall downtrend has seen a steep fall of over $14 per barrel in just over a week. This drop in global oil prices has ignited public demand for immediate relief at the fuel pumps.
Currently, Pakistani consumers are burdened with a maximum petroleum levy of Rs 70 per litre on both petrol and diesel. With international rates tumbling, market experts suggest there is now room to reduce local petroleum prices by as much as Rs 12 per litre. Such a move would not only bring economic relief to ordinary citizens but also help ease overall inflation, which remains a pressing concern for households nationwide.
Despite this fiscal opportunity, there are concerns that the government may choose to reintroduce the General Sales Tax (GST) on petroleum products — a measure it has avoided in recent months due to high fuel prices. Analysts point out that the current drop in crude oil prices offers the government the cushion it needs to reapply GST without triggering a net increase in fuel costs.
The Ministry of Finance is expected to announce a decision soon, balancing the twin challenges of revenue generation and public welfare. As the cost of living continues to weigh heavily on Pakistani families, all eyes are on Islamabad, where citizens hope for meaningful action that translates into lower petroleum prices at the pump — and a bit of breathing room in their monthly budgets.