Global oil markets witnessed sharp downturn after US. President Donald Trump announced that Washington would continue negotiations with Iran, easing fears of prolonged geopolitical tensions and raising hopes of improved crude supplies.
The announcement triggered broad sell-off in the energy market, sending international benchmark Brent crude down by nearly 4.2% to around $84 per barrel. U.S. benchmark West Texas Intermediate (WTI) also plunged 5% to $80 per barrel before extending losses to $78.97 per barrel during trading. Brent continued its downward slide as well, settling at $82.92 per barrel.
The decline was not limited to Western benchmarks. UAE’s Murban crude also came under pressure, with its price dropping to $80.08 per barrel, reflecting the broader weakness across global oil markets.
The sharp fall in crude prices renewed relief for fuel-importing countries, including Pakistan, where international oil prices directly influence domestic petroleum rates.
As Per available information, Petrol Price in Pakistan could go down by Rs3-5 per litre today as new rates will be shared soon.
With Pakistan currently reviewing petroleum prices on a daily basis, the latest slump in global crude has strengthened speculation that petrol and diesel prices could be reduced in the next price adjustment. However, the final decision will rest with the federal government after reviewing international market trends and applicable taxes and levies.
The latest petroleum prices in Pakistan remain unchanged over weekend, with motorists continuing to pay Rs336.03 per litre for petrol and Rs392.38 per litre for High-Speed Diesel (HSD) under the government’s daily fuel pricing mechanism.
| Petroleum Product | Price (Rs/Litre) |
|---|---|
| Petrol (MS) | 336.03 |
| High-Speed Diesel (HSD) | 392.38 |
