PM Orders Immediate Relief for Public as Global Oil Prices Fall

Updated: 4:42 PM PKT — June 19, 2026

Deputy Prime Minister and Foreign Minister Ishaq Dar confirmed on Thursday that the government is reducing the prices of petroleum products. Speaking informally to journalists, Dar’s statement reinforces the prime minister’s earlier directive to pass on the benefit of lower international oil prices to consumers.

Dar also commented on bilateral relations, noting that the second phase of negotiations with Iran was delayed due to Muharram. He clarified there were no obstacles in the talks and that the second phase is expected to be completed within sixty days. He added that officials in Switzerland for a separate engagement were recalled after the Iranian president signed a key agreement.

Updated: 4:11 PM PKT — June 19, 2026

Speaking in the National Assembly, Prime Minister Shehbaz Sharif personally announced a major cut in petroleum prices, attributing it to easing regional tensions following a recent peace agreement. He stated that Pakistan is receiving “international appreciation” for its role in the diplomatic breakthrough and credited Field Marshal Syed Asim Munir for playing the “leading role” in the peace efforts, while also acknowledging other ministers.

The Prime Minister revealed he had spoken with Iranian President Masoud Pezeshkian, who thanked Pakistan for its support. Sharif said he invited the Iranian leader to Pakistan and confirmed that a Pakistani delegation would attend the funeral of the late Iranian Supreme Leader, Ayatollah Ali Khamenei, upon President Pezeshkian’s invitation.

Updated: 2:38 PM PKT — June 19, 2026

Addressing the National Assembly, Prime Minister Shehbaz Sharif stated that Pakistan has earned “global recognition” for its role in facilitating the recent peace agreement between the United States and Iran. He announced that a substantial reduction in petroleum prices would be unveiled following the easing of regional tensions.

The prime minister extended special thanks to Chief of Defence Forces Field Marshal Syed Asim Munir, Deputy Prime Minister Ishaq Dar, and Interior Minister Syed Mohsin Naqvi for their key roles in the peace efforts. He also informed the house that he had received a telephone call from Iranian President Masoud Pezeshkian, who thanked Pakistan for its support, and that he had invited the Iranian president to visit.

Updated: 2:07 PM PKT — June 19, 2026

Prime Minister Shehbaz Sharif announced in the National Assembly on Thursday that a “significant reduction” in the prices of petroleum products will be made today.

The premier stated that the weekly price adjustment is due and praised the chief ministers of all four provinces for their efforts in providing relief to the public. The announcement has been met with positive reactions on social media, with citizens speculating on the magnitude of the price cut, with some suggesting reductions of Rs 20 to Rs 40 per litre.

Updated: 1:06 PM PKT — June 19, 2026

Prime Minister Shehbaz Sharif announced in the National Assembly that a “substantial reduction” in fuel prices would be declared today, fulfilling his government’s promise to pass on relief to the nation. He attributed the falling oil prices to the recent ceasefire and confirmed new weekly fuel prices would be announced.

In his address, Sharif credited Field Marshal Syed Asim Munir with playing the “most key role” in the recent diplomatic success. The Prime Minister also announced that a Pakistani delegation would travel to Iran to attend the last rites for Supreme Leader Ali Khamenei on July 3 and 4, following an invitation from the Iranian President.

Updated: 12:35 PM PKT — June 19, 2026

Prime Minister Shehbaz Sharif announced in the National Assembly that the government would be making a “significant reduction” in petroleum prices, with the new weekly rates to be declared today. He stated that the US-Iran ceasefire will bring regional economic prosperity and that oil prices are falling rapidly.

The Prime Minister also shared details of a half-hour phone call with Iranian President Masoud Pezeshkian, who expressed deep gratitude to Pakistan for its support. During the call, the Iranian President specifically thanked “the Field Marshal” for his role. Prime Minister Sharif extended an invitation to President Pezeshkian to visit Pakistan soon.

Updated: 11:32 AM PKT — June 19, 2026

A significant reduction in petroleum product prices is expected by June 20, with the federal government reportedly considering cuts of up to Rs 55 per litre. The potential relief for consumers comes as international crude oil prices continue to fall following the recent US-Iran memorandum of understanding, which has eased geopolitical tensions.

According to sources, the Ministry of Finance is considering a proposal to reduce the price of petrol by Rs 20 per litre and high-speed diesel by Rs 36 per litre. The final decision may also include an adjustment to the petroleum levy.