By Pervaiz Mughal
ISLAMABAD: Pakistan is expected to see relief in petroleum prices in the coming days as global oil markets soften following easing tensions linked to the Iran conflict, Petroleum Minister Ali Pervaiz Malik said on Friday.
Speaking to Geo News, the petroleum minister said the government would soon announce “good news” for consumers regarding fuel prices, adding that recent geopolitical tensions, including the Iran-US conflict, had already put pressure on household budgets.
He said the government was committed to passing on any benefit from falling international oil prices directly to the public, in line with Prime Minister Shehbaz Sharif’s direction. According to the minister, expectations of Iranian crude returning to global markets have helped ease pressure on oil prices internationally.
Ali Pervaiz Malik said rising and falling fuel prices had a direct impact on inflation and public spending in Pakistan, and the government was trying to provide maximum relief where possible. He added that global markets were now reacting positively to diplomatic efforts and stabilising energy supplies, which had helped bring crude oil prices down.
The minister also said Pakistan’s leadership, including the prime minister and senior officials, was being acknowledged internationally for their diplomatic engagement during recent regional tensions. Officials say a formal announcement on revised petroleum prices is expected in the upcoming price review cycle.
#PetrolPrices #PakistanEconomy #FuelPrices #InflationRelief #OilMarket #BreakingNews
