Fuel Prices May Bring Good News Within Two Days

Petroleum Minister Ali Pervez Malik has hinted at possible relief for consumers, saying domestic fuel prices could bring “good news” within the next two days if international crude prices remain stable.

Speaking to the media on Sunday, Malik said the final decision on petroleum prices rests with the Oil and Gas Regulatory Authority (OGRA), which determines fuel rates using a seven-day average of international oil prices.

The minister acknowledged that fuel prices remain elevated in both international and domestic markets, particularly amid the economic challenges triggered by the Iran-US conflict.

He said neighbouring countries also faced fuel shortages during the period, with some motorists reportedly receiving only one or two litres of petrol after presenting their identity cards.

On the wider energy sector, Malik said the Finance Ministry had reached several agreements during the federal budget process and stressed the need for new mechanisms to strengthen the country's energy framework.

He also called for the development of alternative energy arrangements, saying those familiar with the sector understood the importance of creating additional energy options.

Addressing the petroleum levy, Malik said Prime Minister Shehbaz Sharif had honoured the government's commitments, maintaining that there had been no increase or reduction in the levy.

The minister also suggested that the country should debate whether greater administrative powers could be transferred to the grassroots level to improve governance and decision-making.

He noted that any constitutional changes would have to be made through the procedure prescribed by the Constitution and stressed that decisions on the matter should ultimately be based on Pakistan's national interest.