The Government of Pakistan has decided not to increase petroleum product prices despite a surge in global oil markets. Prime Minister Shehbaz Sharif announced on Friday that fuel prices will remain unchanged in an effort to provide relief to citizens during challenging economic conditions.
According to the latest decision, petrol will remain at Rs. 321.17 per litre while high-speed diesel will continue to be sold at Rs. 335.86 per litre. The current prices will stay in place until the next scheduled review of petroleum rates.
Prime Minister Shehbaz Sharif stated that the move reflects the government’s commitment to reducing the financial pressure on the public. He emphasized that the administration is focused on easing the burden on ordinary citizens, especially at a time when economic challenges are affecting households across the country.
The prime minister acknowledged that global geopolitical tensions have pushed oil prices higher internationally, creating pressure on economies worldwide. These developments, he noted, could also impact Pakistan’s financial landscape if not managed carefully.
Despite these challenges, the government has opted to absorb the impact instead of passing the additional cost on to consumers. Officials believe this approach will provide short-term relief for transporters, businesses, and households that rely heavily on petroleum products.
Sharif added that the government is actively managing the situation through prudent policy decisions, financial discipline, and austerity measures. These efforts include reducing unnecessary expenditures within government institutions and encouraging similar cost-cutting initiatives among the country’s elite.
He also noted that provincial governments are cooperating with federal authorities in implementing austerity policies. This coordination, he said, is essential to maintaining economic stability and ensuring responsible use of public resources.
The prime minister further assured the public that Pakistan currently holds adequate crude oil reserves to meet domestic demand. These supplies have been secured through the coordinated efforts of the country’s diplomatic and economic teams.
Authorities are also monitoring fuel distribution closely to ensure compliance with official pricing. Federal and provincial regulators are working together to prevent retailers from charging prices higher than those notified by the government.
Sharif expressed optimism that global oil markets will stabilize in the coming weeks, which could help maintain fuel price stability in Pakistan. Until then, the government says it remains committed to protecting consumers from additional financial strain.