Federal Minister for Petroleum Ali Pervaiz Malik said on Tuesday that the government will pass the full benefit of lower global oil prices on to consumers. Hormuz Tankers hit in Strait of Hormuz as tensions escalate during Iran mourning Speaking to reporters, Malik said reducing the fuel price burden remains one of the government’s top priorities. He added that the government wants people to benefit from falling international oil prices. He said the Oil and Gas Regulatory Authority (OGRA) reviews petroleum prices every week. The regulator follows a pricing mechanism that has remained in place for the past 20 years. According to the minister, OGRA calculates fuel prices by considering average international oil prices, import costs and Pakistan State Oil’s operational expenses. Malik also highlighted recent government relief measures. He said the government allocated Rs130 billion on the prime minister’s instructions to provide cheaper fuel. The initiative benefited motorcyclists and public transport users. He added that individual companies are responsible for their own profits and losses. However, the government will ensure consumers receive the benefit of lower global oil prices. Malik said the government remains committed to providing maximum relief whenever international fuel prices decline. Post navigation Finance Ministry unveils fund release strategy for 2026-27
