Government Plans Weekly Fuel Pricing Mechanism to Pass on Relief to Consumers
The government has formed a high-level committee to review and develop a weekly pricing mechanism for petroleum products, aimed at reflecting changes in international oil prices more quickly in the domestic market.
According to Petroleum Minister Ali Pervaiz Malik, Prime Minister Shehbaz Sharif has directed authorities to ensure that any reduction in global oil prices is promptly passed on to consumers.
He stated that crude oil prices in the international market have recently fallen to their lowest level in around three months, creating space for potential relief in domestic fuel rates.
The proposed pricing mechanism is expected to improve transparency by helping consumers better understand how fuel price adjustments are determined. Officials said the formula will be developed in consultation with relevant stakeholders.
The minister further added that the government is also reviewing broader energy policies as part of efforts to strengthen energy security and protect national interests.
This development follows earlier indications from the petroleum ministry that fuel prices may be reduced in line with declining global oil trends and improving regional conditions.
The final structure of the weekly pricing system is expected to be announced after consultations and policy approval.
