Oil prices decline internationally, relief to be passed on to public: Petroleum Minister

ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 18th Jun, 2026) Federal Minister for Petroleum Ali Pervaiz Malik said on Thursday that oil prices in the international market have started to decline and that Prime Minister Shehbaz Sharif has directed that the benefit of this reduction be passed on immediately to the public.

In a post on X, he said the government has constituted a high-level committee to formulate a transparent weekly pricing mechanism for petroleum products.

Ali Pervaiz Malik said that the proposed formula will ensure that the public is fully informed about the reasons behind price adjustments while making the pricing process more accountable and transparent in the future.

He said the formula will be finalized after consultations with all relevant stakeholders.

The federal minister added that despite regional tensions, the government has managed to maintain the country’s oil supply chain without any disruption and appreciated the cooperation of all partners as well as the public in this regard.

He further said that, in view of the evolving regional situation, Pakistan is also reviewing its national energy security strategy, and several measures will be introduced in the coming months to safeguard national interests and ensure a secure energy future.