Islamabad: Federal Minister for Petroleum Ali Pervaiz Malik has said that petrol prices in Pakistan could be reduced further if international crude oil prices continue to decline, clarifying the government’s policy after the latest fuel price review.
Speaking to the media, the minister said the government determines petroleum prices based on fluctuations in the global oil market, the exchange rate, freight charges, and applicable taxes. He emphasized that any future reduction in petrol prices would depend on a sustained decrease in international crude oil prices.
Ali Pervaiz Malik rejected claims that the government was withholding relief from consumers, saying that fuel pricing is carried out under a transparent mechanism. He added that authorities continuously monitor international market trends and review prices every fortnight.
The minister noted that while the government is committed to providing maximum relief to the public, it must also ensure fiscal stability and meet revenue requirements. He said that any significant drop in global oil prices would be reflected in domestic fuel prices, provided other economic factors remain stable.
He further explained that the government is balancing consumer relief with economic priorities, including inflation control and maintaining financial discipline.
The clarification comes after the government announced no change in petrol and high-speed diesel prices in the latest fortnightly review, prompting questions from consumers regarding the possibility of future price cuts.
