Petroleum minister defends govt pricing mechanism, says no sector being favoured

Federal Minister for Petroleum Ali Pervaiz Malik on Saturday said the government remained committed to passing on the benefit of lower international oil prices to consumers while meeting international obligations, dismissing suggestions that it was favouring any particular sector in its fuel pricing decisions.

In a post on social media platform X, the minister shared international Platts benchmark prices for petrol and high-speed diesel (HSD) for the current week, showing fluctuations in global refined fuel prices. Petrol prices ranged between $90.36 and $98.35 per barrel during June 22-26, while HSD traded between $104.79 and $109.09 per barrel.

“Please see the international Platts prices for petrol and diesel for this week,” Ali Pervaiz wrote. “The government is neither favouring any sector nor placing an unnecessary burden on another.”

He said the government was committed to extending any available relief to consumers within the framework of Pakistan’s international commitments.

“The government remains committed to passing on any benefit to consumers while remaining within the ambit of its international obligations,” the minister said.

Highlighting the government’s record on fuel prices, Malik said Prime Minister Shehbaz Sharif had so far reduced the price of diesel by Rs200 per litre and petrol by Rs155 per litre.

The remarks come a day after the federal government decided to maintain existing petroleum product prices until further notice.

As per a notification issued by the Ministry of Energy (Petroleum Division) on Friday, the price of Motor Spirit (petrol) will remain unchanged at Rs299.50 per litre, while High Speed Diesel (HSD) will continue to be sold at Rs311.47 per litre.