ISLAMABAD: A day after the government kept petrol and high-speed diesel (HSD) prices unchanged in its weekly review, Federal Minister for Petroleum Ali Pervaiz Malik on Saturday said “good news” was likely for consumers in the coming days.
Malik said a high-level committee constituted on Prime Minister Shehbaz Sharif’s directives would oversee petroleum price determination to ensure transparency and protect consumer interests.
Under a Petroleum Division notification issued on Friday, petrol remained at Rs299.50 per litre and HSD at Rs311.47 per litre “until further orders”. The Oil and Gas Regulatory Authority, however, reduced the price of kerosene by Rs6.85 per litre to Rs227.05 from Rs233.90.
Speaking to a local media outlet, Malik said the government was closely monitoring international oil-market trends and would pass on any available benefit to consumers while staying within the scope of international obligations.
He said the government would neither favour any sector nor impose an undue burden on another. Consumer protection was the prime minister’s top priority, he added.
In a post on X, Malik asked the public to review international Platts prices for petrol and HSD during the week. Figures shared by the minister showed petrol falling from $98.35 per barrel on June 22 to $95.23 on June 23, $92.23 on June 24 and $90.36 on June 25, before rising to $91.68 on June 26.
The HSD benchmark stood at $109.09 per barrel on June 22, fell to $105.02 the following day, rose to $105.76 on June 24, then eased to $105.06 on June 25 and $100.92 on June 26.
Malik said the government had so far reduced petrol prices by Rs155 per litre and diesel prices by Rs200 per litre, describing the cuts as part of efforts to provide relief to the public.
He said fuel supplies had remained stable despite global market volatility and war-related uncertainty, with no shortages reported.
Petroleum Division sources said the petroleum levy on HSD was raised by Rs6.57 per litre to Rs79.54, from Rs72.97. The levy on petrol increased by 39 paisas to Rs66.64 per litre from Rs66.25, while the levy on kerosene remained unchanged at Rs20.36 per litre.
In the preceding weekly review, the government cut petrol prices by Rs74 per litre, HSD by Rs67 per litre and kerosene by Rs48.29 per litre, bringing the latter down from Rs282.19 to Rs233.90.
The reductions followed the US-Iran peace agreement, facilitated through Pakistan’s diplomatic efforts, and the reopening of the Strait of Hormuz, which eased concerns over oil supplies and contributed to a decline in international crude prices.
Petrol is mainly used by commuters in small vehicles, rickshaws and two-wheelers. HSD is widely used in heavy goods transport, buses, trains and agricultural machinery, making its price inflationary.
Malik said the government would continue to pursue fair, transparent and responsible fuel pricing in line with international market conditions and the prime minister’s directives.
