Petrol Price in Pakistan likely to decrease after Hormuz decision: Minister

BusinessMust ReadPetrol Price in Pakistan likely to decrease after Hormuz decision: MinisterBy Web Desk-Apr 17, 2026ISLAMABAD: Federal Minister for Energy Awais Ahmed Khan Leghari has stated that petrol price is likely to decrease following the reopening of the Strait of Hormuz for commercial trade today, ARY News reported. The Federal Minister took to his X account to state that, through the extensive efforts of Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir, Pakistan has become a global flag bearer for peace. Minister Leghari noted that the ceasefire brokered in Lebanon has allowed for the resumption of commercial trade, coinciding with the reopening of the Strait of Hormuz. اللہ تعالی کا شکر کہ پاکستان کو یہ موقع ملا کہ ہمارے وزیراعظم شہباز شریف اور فیلڈ مارشل سید عاصم منیر کی بھر پور کوششوں سے پاکستان عالمی امن کا علمبردار بنا ، لبنان میں جنگ بندی ہو ئی اور آبنائے ہرمز کمرشل آمد ورفت کیلیے آج کھل گئی ہے انشاءاللہ ان کوششوں کی وجہ سے پٹرول اور… pic.twitter.com/4lC3FS7Mwc — Awais Leghari (@akleghari) April 17, 2026 He remarked, “Insha’Allah, as a result of these efforts, petroleum prices will soon decrease, and electricity provision will improve with the renewed supply of LNG.” Earlier, Iran announced the complete reopening of the strategically vital Strait of Hormuz, signaling a significant development amid ongoing regional de-escalation efforts. Iranian Foreign Minister Abbas Araghchi on X (former Twitter) confirmed that the waterway has been fully opened, linking the move to the prevailing ceasefire conditions in the region, particularly in Lebanon. In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran. — Seyed Abbas Araghchi (@araghchi) April 17, 2026 According to the Iranian foreign minister, the Strait of Hormuz will rem...