Petrol and diesel prices to be reviewed next week based on global market situation, says Petroleum Minister

ISLAMABAD: Federal Petroleum Minister Ali Pervaiz Malik has said that considering the global market situation, petrol and diesel prices will be reviewed next week.

Ali Pervaiz Malik has said that the government will conduct a detailed review of international petrol and diesel price indices this week so that future decisions can be taken according to the global market situation.

In his statement released on the social networking website X, the Petroleum Minister said that the government is neither giving priority to any one sector nor is it putting unnecessary burden on anyone. He said that the government is determined to provide all possible relief to the people keeping in mind its international responsibilities.

Ali Pervaiz Malik said that Prime Minister Shehbaz Sharif has so far reduced the price of diesel by a total of Rs 200 per liter and the price of petrol by Rs 155 per liter. He said that the next course of action will be determined after reviewing the price indices of petrol and diesel in the global market this week.

It should be noted that despite the significant decline in crude oil prices in the global market, the government has decided to maintain the prices of petroleum products for the time being.

The government has issued a notification to maintain the prices of petroleum products. According to which the price of petrol per liter has been maintained at Rs 299.50.

According to the notification, it has also been decided to maintain the price of diesel at Rs 311.47 per liter.