Federal Minister for Petroleum Ali Pervaiz Malik on Saturday dismissed reports that the government was favoring any particular sector by not reducing oil prices. He reaffirmed the government's commitment to passing on the benefit of lower international oil prices to consumers, indicating that good news on fuel prices is likely in the coming days.
International Benchmarks Shared
In a post on social media platform X, the minister shared international Platts benchmark prices for petrol and high-speed diesel (HSD) for the current week, highlighting fluctuations in global refined fuel prices. Petrol prices ranged between $90.36 and $98.35 per barrel during June 22-26, while HSD traded between $104.79 and $109.09 per barrel. “Please see the international Platts prices for petrol and diesel for this week,” Ali Pervaiz said. “The government is neither favouring any sector nor placing an unnecessary burden on another.”
Government's Commitment to Relief
He emphasized that the government was committed to extending any available relief to consumers within the framework of Pakistan’s international commitments. “The government remains committed to passing on any benefit to consumers while remaining within the ambit of its international obligations,” the minister stated. Highlighting the government’s record on fuel prices, Malik noted that Prime Minister Shehbaz Sharif had so far reduced the price of diesel by Rs200 per litre and petrol by Rs155 per litre.
Current Fuel Prices Maintained
The remarks come a day after the federal government decided to maintain existing petroleum product prices until further notice. According to a notification from the Ministry of Energy (Petroleum Division) issued on Friday, the price of Motor Spirit (petrol) remains unchanged at Rs299.50 per litre, while High Speed Diesel (HSD) continues at Rs311.47 per litre. The petroleum levy on HSD was increased by Rs6.57 per litre to Rs79.54, from Rs72.97. The levy on petrol rose by 39 paisas to Rs66.64 per litre from Rs66.25, while the levy on kerosene remained unchanged at Rs20.36 per litre. Meanwhile, the Oil and Gas Regulatory Authority reduced the price of kerosene by Rs6.85 per litre to Rs227.05 from Rs233.90.
High-Level Committee for Transparency
Ali Pervaiz Malik also stated that efforts are underway to ease the burden on consumers within international commitments, adding that a high-level committee set up under the Prime Minister’s directives will oversee transparent price determination. He expressed hope that good news for the public is likely in the coming days. Speaking to a local media outlet, Malik said that the Prime Minister’s top priority is the protection of consumer rights, and the committee has been constituted to ensure transparency in petroleum pricing. He urged the public to review the international Platts prices for petrol and diesel this week, noting that pricing decisions are being made on a fair and transparent basis.
Fair and Responsible Pricing
The minister concluded by stating that the government will continue to ensure fair, transparent, and responsible petroleum pricing, reaffirming its commitment to consumer protection and sustained efforts to provide relief in line with international market conditions and the Prime Minister’s directives.
