Petrol Prices Could See Relief Within Two Days, Petroleum Minister Says

Petroleum Minister Ali Pervez Malik has indicated that consumers could receive positive news regarding petrol and diesel prices within the next two days, provided international oil prices remain stable.

Speaking to the media on Sunday, the minister explained that fuel prices in Pakistan are determined by the Oil and Gas Regulatory Authority (OGRA). The authority uses a seven-day average of international oil prices to calculate domestic fuel rates, with the final decision depending on global market trends and OGRA's assessment.

Malik said that oil prices remain relatively high both internationally and within Pakistan. He also referred to the challenges faced earlier this year during tensions between Iran and the United States, when several neighbouring countries experienced fuel supply difficulties.

For motorists and households already dealing with high fuel costs, any reduction in petrol and diesel prices would provide much-needed relief. Petrol is currently priced at Rs. 327.62 per litre, while high-speed diesel stands at Rs. 380.86 per litre, following a modest reduction earlier this week. Consumers are now awaiting the next official fuel price review with hopes of further relief.