Global Oil Prices Drop 12% in 3 Days but Pakistan Fuel Prices Remain High Despite Market Decline
Islamabad, July 29, 2026: Despite a sharp decline in global oil prices, Pakistani consumers continue to face record-high fuel costs, with no immediate relief announced by the government.
Over the past three days, international petroleum prices have fallen by nearly 12%, reversing the upward trend that had persisted since mid-July. However, the reduction has yet to be reflected in domestic fuel prices.
Since July 17, fuel prices in Pakistan have increased significantly following the government’s decision to introduce daily fuel price adjustments. During the last 12 days, diesel prices have risen by Rs65.08 per litre, while petrol has become Rs25.01 per litre more expensive.
On July 17, diesel was priced at Rs323.03 per litre, and petrol stood at Rs310.71 per litre. As of July 29, petrol is being sold at Rs335.81 per litre, while diesel has climbed to Rs388.38 per litre.
During this period, petrol prices were reduced only twice by a marginal amount—35 paisas on July 21 and Rs1 on July 27. Diesel prices, however, have not seen any reduction since July 17.
International oil markets experienced a notable correction between July 25 and July 28, with petroleum prices declining by approximately 12%. Despite this global trend, the Pakistani government has yet to pass on the benefit to consumers, leaving households and businesses under continued financial pressure.
Economists believe that if the downward trend in international crude oil prices continues, the government may have room to lower domestic fuel prices in the coming days. For now, however, consumers remain burdened by elevated transportation and energy costs.