ISLAMABAD: The prices of petrol and diesel in Pakistan are predicted to drop soon, providing some respite to the consumers. The decline in oil prices is primarily due to the favourable impact of the recent US and Iranian ceasefire.
According to officials’ statements, the prices of crude oil have experienced a fall of around 16 percent in the last two weeks. The expected decline is believed to have a direct effect on the prices of petroleum fuels in Pakistan and may lead to a reduction of Rs. 30 to 60 per liter of petrol and diesel.
The Prime Minister of Pakistan, Shehbaz Sharif, has directed all related ministries such as the Ministry of Petroleum and the Ministry of Finance to make sure that the benefit from the drop in oil prices is transferred to the people.
Currently, the government is considering a number of recommendations regarding the drop in fuel prices, and it will announce its decision after two more days of observing the situation in the international oil market.
PM Shehbaz confirms immediate US-Iran ceasefire, invites delegations to Islamabad for peace talks
It is worth mentioning here that the Prime Minister Shehbaz Sharif has confirmed that the Islamic Republic of Iran and the United States of America, along with their respective allies have agreed to an immediate ceasefire effective immediately. This ceasefire includes all areas of conflict, notably extending to Lebanon and other regions affected by the tensions between the two powers.
In his tweet, PM Sharif expressed his gratitude, saying, “With the greatest humility, I am pleased to announce that both the United States and Iran, along with their allies, have agreed to an immediate ceasefire everywhere, including Lebanon and elsewhere, effective immediately.” He further welcomed the decision, calling it a “sagacious gesture” from both nations, and praised the leadership of both countries for their willingness to engage in peace.
With the greatest humility, I am pleased to announce that the Islamic Republic of Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere including Lebanon and elsewhere, EFFECTIVE IMMEDIATELY.
I warmly welcome the…— Shehbaz Sharif (@CMShehbaz) April 7, 2026
The Prime Minister also extended an invitation to both delegations, expressing a hope that “the ‘Islamabad Talks’ succeed in achieving sustainable peace.” The Islamabad Talks are scheduled for Friday, April 10, 2026, where both parties will further negotiate toward a comprehensive and lasting resolution to all disputes.
PM Sharif highlighted the remarkable wisdom and constructive engagement displayed by both parties, noting, “Both parties have displayed remarkable wisdom and understanding and have remained constructively engaged in furthering the cause of peace and stability.”
This momentous announcement marks a significant step toward peace in the Middle East, as PM Sharif expresses optimism that these talks will bring lasting resolution to longstanding issues. The Prime Minister also promised to share more positive developments in the coming days.
