Pakistan expects global oil market improvements to benefit consumers as the government prepares a new transparent fuel pricing mechanism.
Pakistan’s energy outlook is showing signs of change as diplomatic efforts surrounding the Iran-US conflict move toward a possible ceasefire, with Islamabad expecting positive impacts on global fuel markets. Federal Minister for Petroleum Ali Pervez Malik said government-level diplomatic initiatives are beginning to produce results and international oil prices have started declining.
In a statement shared on X, the petroleum minister said the efforts of the Prime Minister, Field Marshal, Foreign Minister and Interior Minister are contributing toward progress between Iran and the United States. He added that the decline in global oil prices should directly benefit the public.
Following directions from Prime Minister Shehbaz Sharif, the government has formed a high-level committee to develop a transparent weekly formula for petroleum price adjustments. The proposed mechanism aims to explain the reasons behind price changes and improve public understanding of fuel pricing decisions.
Ali Pervez Malik said the formula would be finalized after consultations with all relevant stakeholders to ensure a fair and transparent process.
He also highlighted that despite regional tensions, Pakistan successfully maintained its fuel supply chain without major disruption. The minister thanked partners and citizens for their cooperation during the challenging period.
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