Iran peace deal can bring down petrol prices?

Finance Ministry Advisor, Khurram Shahzad has said Pakistan would be the biggest beneficiary if Iran is allowed to sell its oil and gas in the international market.

This he said while talking in the ARY News program Bakhabar Savera.

“Any potential easing of sanctions on Iran and its reintegration into the global oil economy could significantly improve regional energy supply dynamics, potentially benefiting countries like Pakistan.”

He added that such developments, if they materialise, could open new opportunities for energy cooperation and trade routes, although any improvements would likely take time to fully materialise.

Replying to a query about the government passing the relief to the masses, Khurram Shahzad said Pakistan has begun passing on reductions in global oil prices to consumers following recent declines in the international crude oil market, officials said, noting that fuel prices in the country have already been adjusted multiple times in recent weeks.

With the recent downturn in international oil markets, relief is now gradually being reflected in local fuel prices, Shahzad said and added that over the past two to three weeks, multiple reductions have been announced, including cuts of approximately Rs22 per litre, followed by further decreases of around Rs10–12 per litre, and most recently about Rs4 per litre for petrol and diesel.

The advisor explained that Pakistan’s fuel pricing is also influenced by broader supply chain and infrastructure constraints, particularly in energy import routes such as the Strait of Hormuz, through which a significant share of the country’s energy imports are transported.

Read more: Oil prices fall 5% to 3-month low on hopes Strait of Hormuz will open

Any disruption in global supply lines or damage to energy infrastructure can delay the full impact of falling prices reaching consumers.

It was also noted that international petroleum product prices, including refined petrol and diesel, do not always move in direct correlation with crude oil prices. As a result, domestic pricing adjustments are based on multiple market indicators rather than crude oil alone.