Petroleum Minister Ali Pervaiz Malik has indicated that relief in petroleum product prices may soon be announced, signaling possible reductions for consumers. His remarks come amid a decline in global crude oil prices and easing tensions in international energy markets.
Speaking to local media, the minister said the public had already faced financial pressure due to recent geopolitical tensions and rising fuel costs. He added that higher petroleum prices had significantly impacted household budgets and overall inflation levels.
He said the government, under the direction of Prime Minister Shehbaz Sharif, aims to reduce prices wherever possible to provide relief to the public. The minister stressed that efforts are underway to pass on the benefit of falling global oil prices to consumers.
Ali Pervaiz Malik also noted that expectations of increased Iranian crude supply in global markets have contributed to a decline in international oil prices. He said improved supply conditions are helping stabilize energy markets after recent volatility.
The minister added that Pakistan’s leadership has been widely acknowledged for its diplomatic and economic efforts during the recent regional crisis. He said further updates regarding fuel pricing adjustments would be shared once decisions are finalized.