Petroleum prices in Pakistan are likely to be reduced from June 20 after Prime Minister Shehbaz Sharif directed the petroleum authorities to explore relief for consumers, according to sources.

The expected reduction could be significant if the government decides to reverse part of the increase made in March, when petrol prices were raised sharply amid pressure from global oil markets.

According to the working paper prepared by the Petroleum Division, PSO and OGRA, petroleum products may become cheaper by more than Rs55 per litre. However, the final decision will depend on government approval and an official price notification.

Sources said the prime minister has directed the federal petroleum minister to compensate consumers for the March 7 price hike. The government is now reviewing options to provide relief while managing fiscal and energy-sector pressures.

Pakistan had raised fuel prices in March following a rise in international oil prices linked to regional tensions. The earlier increase included a Rs55 per litre rise in petrol prices, according to Reuters.

Any major reduction in petroleum prices would directly affect transport costs, household budgets and inflation expectations across the country. Fuel prices are closely watched in Pakistan because they influence the cost of travel, goods movement and essential commodities.

The revised prices are expected to be announced through an official notification before taking effect. Until then, the proposed reduction remains subject to final approval by the federal government.

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