Pakistan’s government is working on a system to quickly reduce domestic fuel prices and pass on the benefit of falling global oil prices to consumers, Petroleum Minister Ali Pervaiz Malik said on Tuesday.
The plan comes after easing regional tensions linked to Iran–US ceasefire talks. A high-level committee will create a clear weekly formula for setting fuel prices.
The government has instructed that any drop in global oil prices should be passed on to consumers without delay. Malik said the committee is finalizing a transparent weekly pricing system.
Officials expect petrol and diesel prices to fall in the next price review if international oil prices continue to decrease.
Malik said the drop in prices is linked to improving regional conditions as Iran and the United States move toward a ceasefire. He added that diplomatic efforts involving Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, Foreign Minister Ishaq Dar, and Interior Minister Mohsin Naqvi are showing results and affecting global energy markets.
The government has formed a committee to develop a clear weekly pricing method for petroleum products so that consumers can understand how prices are set.
The final formula will be completed after consultations with stakeholders before being implemented.
Malik said Pakistan kept its fuel supply stable during regional uncertainty and ensured uninterrupted availability. He thanked industry partners and the public for their cooperation. He also said the government is reviewing its energy security strategy based on recent developments.
He added that more steps will be taken in the coming months to strengthen long-term energy security. The statement comes as Pakistan may reduce petrol and diesel prices in the next review, depending on global oil price trends.
