The government has established a high-level committee to design a Weekly Fuel Price Formula for petroleum products. The initiative aims to ensure that changes in international oil prices are reflected more quickly in domestic fuel rates, providing timely relief to consumers.
According to Petroleum Minister Ali Pervaiz Malik, the move follows the prime minister’s directive to transfer the benefits of declining global oil prices directly to the public. The proposed Weekly Fuel Price Formula is expected to improve transparency and responsiveness in fuel price adjustments.
The minister stated that Pakistan’s recent diplomatic efforts have contributed to greater regional stability. He credited the prime minister and senior government leadership for pursuing policies that support economic confidence and energy security during uncertain global conditions.
Officials believe the Weekly Fuel Price Formula will help consumers better understand how fuel prices are determined. By linking domestic prices more closely to international market trends, the government hopes to create a clearer and more predictable pricing mechanism.
Ali Pervaiz Malik emphasized that the new formula will be developed after extensive consultations with all relevant stakeholders. Industry representatives, regulators, and policy experts are expected to participate in discussions before any final recommendations are approved.
The announcement comes as global crude oil prices have fallen to their lowest levels in approximately three months. Lower international prices have increased expectations that consumers could benefit from reduced transportation and energy costs if market trends continue.
The petroleum minister also revealed that the government is reviewing its broader energy security framework. Several measures are under consideration to strengthen energy resilience, protect national interests, and improve efficiency across the sector. The Weekly Fuel Price Formula is expected to be an important part of these wider reforms.
