Govt decides to fix fuel prices daily due to renewed hostilities in Persian Gulf: petroleum minister

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Pakistan's Petroleum Minister announced that fuel prices will be fixed daily due to volatile international markets amid escalating US-Iran hostilities in the Persian Gulf. This move aims to increase transparency and help citizens understand the reasons behind fuel price fluctuations.

Petroleum Minister Ali Pervaiz Malik on Friday said that fuel prices would be fixed daily due to fluctuations in international market prices following renewed hostilities between Iran and the US. Before announcing the latest cabinet decision on fuel prices, Malik thanked the nation on behalf of the government, who he said have “patiently tried to bear the burden of this war”. He noted that despite the efforts of Chief of Defence Forces (CDF) and Chief of Army Staff Field Marshal Asim Munir and Prime Minister Shehbaz Sharif, the US-Iran war seemed to be escalating in the region. “The Cabinet and prime minister have decided … Ogra will be given the responsibility to daily decide the fuel prices based on the international market,” the petroleum minister said. He added that Ogra would “not just publish the fuel rates on its website that are used to determine prices, but also publish the factors leading to the price that we see in each petrol pump”. Malik stated that although the decision would surely add a burden on citizens, they would see how it was necessary for the state. He said that the decision was part of the government’s decision to make the system more transparent, so that people could understand why increasing fuel prices were inevitable. More to follow