By Asghar Ali Mubarak
ISLAMABAD: Petroleum Minister Ali Pervaiz Malik has assured that petrol and diesel prices in Pakistan will be reduced as soon as the situation stabilizes, with weekly reviews of fuel rates to be conducted.
Speaking to journalists, the minister said the recent increase in petroleum prices was a difficult but necessary decision due to extraordinary circumstances in global oil markets. He warned that strict action would be taken against those who hoarded fuel to profit from artificial shortages.
More Details: https://metro-morning.com/petrol-and-diesel-prices-rise-by-rs55-amid-middle-east-crisis/
Minister Malik added that Pakistan had increased its fuel reserves in response to the situation. Following the closure of the Strait of Hormuz, oil shipments are now arriving from alternative Saudi Arabian ports. Two vessels of the Pakistan National Shipping Corporation (PNSC) are transporting oil via these routes, and Saudi Aramco has indicated readiness to supply oil even on a large tanker if Pakistan dispatches one.
He concluded that the government’s priority remains ensuring steady fuel supply while protecting consumers from undue price burdens, and adjustments will be made as soon as conditions allow.
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