ISLAMABAD: Federal ministers Attaullah Tarar and Ali Pervaiz Malik declared on Wednesday that diesel prices will be lowered by approximately Rs32 per litre starting tonight, offering significant relief to consumers amid rising fuel costs.
During a press briefing in Islamabad, Petroleum Minister Ali Pervaiz Malik explained that the government had leveraged the available tax framework to ease the burden on the public. He noted that diesel consumed in Pakistan is refined domestically and then distributed to oil marketing companies.
“Prime Minister Shehbaz Sharif gave directives, and we conducted two to three virtual meetings with refinery owners,” Malik stated, adding that the refineries agreed to the government’s request for price reduction.
The Oil and Gas Regulatory Authority (OGRA) is set to announce a diesel price cut ranging between Rs30 and Rs32 per litre shortly. Malik emphasized that the government is committed to supporting the public during these challenging times, following the prime minister’s instructions to provide maximum possible relief.
Looking ahead, Malik mentioned plans to visit Karachi refineries with his team next week to explore opportunities for upgrading crude oil processing capabilities. He also highlighted efforts to secure crude oil supplies from friendly nations.
“We ask the public for patience as we understand the difficulties they face,” the petroleum minister added.
Information Minister Attaullah Tarar confirmed that the prime minister had convened a meeting earlier in the day to address the issue. He reiterated that OGRA will soon announce a diesel price reduction of around Rs32 per litre.
Tarar acknowledged the hardships faced by the public and noted that the government has provided subsidies whenever feasible. “Even under the toughest conditions, we managed to prevent petrol prices from increasing,” he said.
Earlier directives from the prime minister had urged the petroleum minister to negotiate with local refinery owners to secure a diesel price cut, emphasizing that a large portion of the country’s diesel demand is met by domestic refineries and that immediate relief should be provided.
This announcement follows a recent price hike where petrol increased by Rs3.34 per litre and high-speed diesel by Rs5.27 per litre. Currently, petrol is priced at Rs334.54 per litre, while high-speed diesel costs Rs395.69 per litre.
Petroleum Minister Ali Pervaiz Malik had previously noted on July 17 that international oil price volatility has become a regular occurrence due to ongoing conflicts in the Middle East. Consequently, the government decided to adjust petroleum product prices daily, starting from July 20, to better respond to market fluctuations.
