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  "path": "/latest/govt-likely-to-cut-fuel-prices-as-global-oil-prices-fall/",
  "publishedAt": "2026-05-29T13:49:59.000Z",
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    "Govt likely to cut fuel prices as global oil prices fall",
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  "textContent": "ISLAMABAD: The government is likely to reduce petroleum product prices following a decline in global crude oil rates, sources said on Friday.\n\nAccording to sources, the ex-refinery price of diesel may fall by Rs31, while petrol ex-refinery prices could drop by Rs8.54.\n\nSources said the final decision on retail fuel prices will be taken by the prime minister after consultations with the economic team, which will consider revenue targets.\n\nMeanwhile, global oil prices also slid as traders monitored developments around efforts to reopen the Strait of Hormuz and reports of a possible extension of a US-Iran ceasefire agreement.\n\nSources told Reuters that Washington and Tehran had agreed in principle to extend the ceasefire and ease shipping restrictions, although final approval from US President Donald Trump is still pending and Iranian state media said the deal had not been finalised.\n\nOil futures fell around 2 per cent and were on track for their steepest weekly decline since early April.\n\nThe post Govt likely to cut fuel prices as global oil prices fall appeared first on HUM News English.",
  "title": "Govt likely to cut fuel prices as global oil prices fall"
}