Petrol prices in Pakistan are expected to decline after Prime Minister Shehbaz Sharif directed authorities to pass on the benefit of falling international crude oil prices to consumers.
Petroleum Minister Ali Pervaiz Malik said the government has formed a high-level committee to develop a transparent weekly mechanism for determining petroleum product prices.
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In a statement, Malik said international oil prices have fallen significantly in recent weeks, with crude prices declining by more than 30 percent over the past month.
The minister said the new pricing mechanism would ensure greater transparency and keep the public informed about the reasons behind changes in fuel prices. He added that the formula would be finalized after consultations with relevant stakeholders.
According to the government, the committee has been tasked with devising a weekly pricing framework following the prime minister’s directive to provide immediate relief to consumers from lower global oil prices.
Malik also said the government had maintained the country’s oil supply chain without major disruption despite regional tensions and was reviewing its broader energy security strategy. He added that additional measures would be introduced in the coming months to safeguard national interests and strengthen energy security.
