Islamabad, June 27, 2026: Federal Minister for Petroleum Ali Pervaiz Malik on Saturday hinted at possible relief in petroleum prices in the coming days, a day after the government decided to keep petrol and high-speed diesel (HSD) prices unchanged in its latest weekly review.
Speaking to a local media outlet, the minister said a high-level committee, constituted on the directives of Prime Minister Shehbaz Sharif, would oversee petroleum price determination to ensure transparency and safeguard consumer interests.
“Our focus is to protect consumers while ensuring a fair and transparent pricing mechanism,” Malik said, adding that the government was closely monitoring international oil market trends and would pass on any available benefit to the public in line with international obligations.
Under a notification issued by the Petroleum Division on Friday, the price of petrol remained unchanged at Rs299.50 per litre, while high-speed diesel (HSD) continued to sell at Rs311.47 per litre until further orders. However, the Oil and Gas Regulatory Authority (OGRA) reduced the price of kerosene by Rs6.85 per litre, bringing it down from Rs233.90 to Rs227.05 per litre.
The minister said the government would neither favour one sector nor place an unfair burden on another, stressing that consumer welfare remained the prime minister’s foremost priority.
In a post on X, Malik shared international Platts benchmark prices, showing that petrol declined from $98.35 per barrel on June 22 to $95.23 on June 23, $92.23 on June 24 and $90.36 on June 25 before recovering slightly to $91.68 on June 26.
Similarly, the HSD benchmark fell from $109.09 per barrel on June 22 to $105.02 on June 23, rose marginally to $105.76 on June 24, eased to $105.06 on June 25 and dropped further to $100.92 on June 26.
Malik said the government had so far reduced petrol prices by Rs155 per litre and diesel prices by Rs200 per litre, describing the reductions as part of broader efforts to provide maximum relief to the public.
He also assured consumers that fuel supplies remained stable despite recent global market volatility and regional conflict, with no shortages reported across the country.
According to Petroleum Division sources, the petroleum levy on HSD has been increased by Rs6.57 per litre, from Rs72.97 to Rs79.54 per litre. The levy on petrol was raised by 39 paisas to Rs66.64 per litre from Rs66.25, while the levy on kerosene remained unchanged at Rs20.36 per litre.
In the previous weekly price review, the government had slashed petrol prices by Rs74 per litre, HSD by Rs67 per litre, and kerosene by Rs48.29 per litre.
Those reductions followed the US-Iran peace agreement, facilitated through Pakistan’s diplomatic efforts, and the reopening of the Strait of Hormuz, developments that eased concerns over global oil supplies and contributed to a sharp decline in international crude prices.
Petrol is primarily consumed by owners of motorcycles, cars and rickshaws, while HSD is extensively used in heavy transport, public buses, railways and the agricultural sector, making its price a key driver of inflation.
The petroleum minister reiterated that the government would continue pursuing a fair, transparent and responsible fuel pricing policy in accordance with international market conditions and the directives of Prime Minister Shehbaz Sharif.
