ISLAMABAD – Pakistan’s energy ministry announced on Friday that petrol and diesel prices will remain unchanged for the upcoming week. The decision follows a de‑escalation of tensions between the United States and Iran, which has eased pressure on global oil markets and helped stabilize crude prices.
The conflict that erupted in late February in the Middle East disrupted shipping through the Strait of Hormuz, a critical conduit for global oil trade, pushing oil prices higher and raising fuel costs for import‑dependent nations such as Pakistan.
Prime Minister Shehbaz Sharif reduced fuel prices last week, lowering petrol by Rs74 per liter to Rs299.50 and diesel by Rs67 per liter to Rs311.47, as global oil prices declined after the Islamabad Memorandum of Understanding between the United States and Iran brought the months‑long conflict to an end.
The Ministry of Energy’s Petroleum Division stated, “The government will retain the current petroleum product prices until further notice.”
Last week, Prime Minister Sharif noted that falling global oil prices and improving regional economic conditions allowed the government to pass on relief to the public, fulfilling a commitment made during the crisis.
Despite worries about potential disruptions to regional energy supplies, Pakistan avoided the fuel shortages and rationing that some nations faced during the Middle East crisis.
The government has sought to protect consumers from rising energy costs throughout the conflict by absorbing part of the price shock through budgetary savings and spending reductions.
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