Rana Sanaullah said the government has formed a dedicated team to monitor developments in petroleum markets and assess their impact on domestic petrol prices
Fiaz Chaudhry
ISLAMABAD: Prime Minister’s Adviser Rana Sanaullah has indicated that petrol prices in Pakistan may decline further as international oil prices continue to ease following the de-escalation in US-Iran tensions.
Rana Sanaullah said the government has formed a dedicated team to monitor developments in petroleum markets and assess their impact on domestic petrol prices.
He noted that global oil prices had surged during the US-Israel and Iran conflict amid concerns over regional stability and potential disruptions to energy supplies. In response to the uncertainty, the government had adopted a weekly review mechanism for petroleum prices.
According to the adviser, oil marketing companies were required to purchase fuel at elevated prices during the period of volatility to maintain adequate stock levels. He said allegations that companies had earned excessive profits during the crisis did not fully reflect the realities of market fluctuations.
Rana Sanaullah added that while companies may benefit from price movements at certain times, they also face losses when market conditions reverse.
He said the government would review the extent of gains and losses within the sector while ensuring that the pricing system continues to function smoothly.
Read more: Pakistan oil industry warns of fuel supply risks after petrol, diesel price cuts
He stressed that the government remains committed to passing on the benefits of lower international oil prices to consumers. However, he warned that any attempt to create an artificial fuel shortage or market disruption would be dealt with strictly.
The remarks come as international crude oil prices have declined in recent days, raising expectations of further relief for consumers if the downward trend continues.
