Petroleum products: Current prices will be maintained despite global hike: PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced that the government will maintain the current prices for petroleum products, despite rising international oil prices, in line with his pledge to shield ordinary citizens from additional financial burdens.

The announcement from the prime minister came hours ahead of the weekly review of petroleum product prices, which is now conducted weekly instead of the previous fortnightly schedule.

According to a statement issued by the Prime Minister’s Office, Prime Minister Sharif said the decision was taken to provide relief to citizens amid challenging economic conditions.

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“As promised, we are striving to deliver as much relief as possible to the people during these difficult times,” he stated.

The prime minister cited regional tensions and pressures on the global economy as factors that could significantly impact Pakistan’s economic stability.

He emphasised that timely policy-making, government austerity measures, and fiscal discipline were key tools in mitigating these effects.

“As a ‘servant of Pakistan’, I am determined to reduce the burden on the poor in these trying circumstances, starting with initiatives by both the government and the country’s elite,” he said.

He highlighted that federal and provincial governments were jointly implementing the austerity measures, a collaboration he described as “encouraging.”

Thanks to the efforts of Pakistan’s diplomatic and economic teams, he added, adequate supplies of crude oil are currently available to meet domestic demand.

The prime minister also assured that authorities at both federal and provincial levels are ensuring no one is charged above the government-set prices for petroleum products.

He expressed optimism that global conditions would stabilise and international fuel prices would ease.

Copyright Business Recorder, 2026