Petrol price relief in Pakistan looks set to continue after Petroleum Minister Ali Pervaiz Malik said international oil prices have declined and further good news on fuel rates will be announced soon. He told a press conference in Islamabad that the government will pass the benefit of cheaper global crude on to the public.
Drivers had already seen a cut from 3 November, when petrol fell by Rs3.40 to Rs374.51 a litre and diesel by Rs7.76 to Rs395.20; a further OGRA cut from 4 November took petrol to Rs369.06 and diesel to Rs391.52. Malik spoke alongside Information Minister Attaullah Tarar.
Refineries step in to hold rates
Malik said a Rs15-a-litre petrol increase was due on Friday, but local refineries agreed to absorb that rise after strong profits from higher throughput over the past three months. Under the government’s new petrol pricing formula, the arrangement runs for 30 days.
He said Pakistan’s oil refineries will absorb around Rs15 billion a month so that petrol stays about Rs15 a litre cheaper than international rates. About 70% of the country’s petrol is imported. Import premiums, he added, jumped from roughly $5 a barrel before the war to $20, with some Pakistan State Oil (PSO) — the state fuel importer — tenders reaching $25 to $30 a barrel.
What ministers said in Islamabad
Malik framed petrol price relief in Pakistan as a direct pass-through of weaker world oil markets rather than a one-off gesture. Tarar said more than 15 million people have registered for the Prime Minister’s Fuel Relief Scheme, which has so far delivered Rs27 billion in support to motorcyclists, rickshaw drivers and owners of cars up to 800cc. He also said the country faces no fuel shortage.
Any further cuts will depend on how long global prices stay soft. The refinery deal that blocked Friday’s Rs15 rise is temporary, so households should treat the current hold as a short window rather than a permanent freeze.
Timeline: what has happened so far
- Past three months: Local refineries booked large profits from higher throughput, which Malik cited as the reason they could absorb a retail hit.
- Before the war (premiums): Petrol import premiums were about $5 a barrel; they later rose to about $20, with some PSO tenders at $25–$30.
- Friday (scheduled change): A Rs15-a-litre petrol increase was due; refineries agreed to absorb it for 30 days under the new pricing formula.
- 3 November 2026: Petrol fell Rs3.40 to Rs374.51 a litre; diesel fell Rs7.76 to Rs395.20 a litre.
- Islamabad press conference: Malik said more fuel-price good news is coming as global oil softens; Tarar cited Rs27 billion already paid under the PM’s Fuel Relief Scheme.
Aasan alfaaz mein
Petrol pehle se sasta ho chuka hai — 4 November se rate Rs369.06 hai (3 November wala interim Rs374.51 tha). Wazir ne kaha hai ke duniya mein oil sasta hone ki wajah se aur raahat anay wali hai. Refineries ne Rs15 ka izafa khud bardasht kiya hai, warna Jumme ko mehnga ho jata. Motorbike walon ke liye yeh mahine mein kai sau rupay ki bachat ho sakti hai.
