Federal Minister for Petroleum, Ali Pervaiz Malik, announced on Saturday that the government intends to pass on the advantages of international oil price fluctuations directly to consumers, while fulfilling its international commitments. This assurance came as the federal government opted to keep petrol and high-speed diesel prices steady for the latest pricing cycle, reflecting a period of relative stability in global oil markets following reduced tensions between the United States and Iran.
Malik shared this update through a post on the social media platform X, where he also presented the international Platts benchmark prices for petrol and high-speed diesel for the week spanning June 22 to June 26. During this period, petrol prices fluctuated between $90.36 and $98.35 per barrel, while high-speed diesel prices ranged from $104.79 to $109.09 per barrel.
The minister emphasized that the government is maintaining a balanced approach, neither favoring any particular sector nor imposing undue burdens on others. He reiterated the administration’s commitment to providing relief to consumers within the constraints of Pakistan’s international obligations.
Highlighting recent measures, Malik pointed out that Prime Minister Shehbaz Sharif has implemented significant reductions in fuel prices, cutting diesel by Rs200 per litre and petrol by Rs155 per litre. This statement followed the federal government’s decision on Friday to hold current petroleum product prices steady, with Motor Spirit (petrol) priced at Rs299.50 per litre and high-speed diesel at Rs311.47 per litre, as per the Ministry of Energy (Petroleum Division) notification.
