ISLAMABAD – Starting June 1, petrol and diesel prices in Pakistan are expected to either remain steady or see a slight decrease, according to industry insiders and government officials. The final decision, however, rests with the finance ministry, which is currently reviewing the proposed adjustments.

Based on preliminary estimates, the price of petrol could be reduced by Rs0.60 per litre, while high-speed diesel (HSD) might see a smaller cut of Rs0.28 per litre. Still, officials have indicated that maintaining current prices is also under serious consideration, especially in light of global market dynamics.

In contrast, minor price hikes are anticipated for kerosene and light diesel oil (LDO). Kerosene may increase by Rs0.30 per litre, taking its new price to Rs164.96 from the current Rs164.64. Meanwhile, LDO is expected to rise by Rs1.30 per litre.

These projections are being shaped by shifts in the international oil market. Brent crude prices recently fluctuated between $64.02 and $64.60 per barrel. At the same time, West Texas Intermediate (WTI) saw a dip of over 1.5%, trading below $61 a barrel, following reports that OPEC+ may agree to boost oil production during its upcoming meeting.

Global oil markets were also impacted by U.S. economic data indicating a contraction in the economy during the year’s first quarter, which dampened investor sentiment and put downward pressure on commodity prices. Earlier in the week, crude had surged by up to 2% after a U.S. trade court overturned a broad set of tariffs from the Trump administration — a move that could potentially stimulate demand from major importers like China.

As the government prepares to announce new fuel prices, officials will be weighing international trends, exchange rates, and domestic economic conditions before making a final call.