Petrol Prices: Pakistan’s Fuel Rates Lower Than Bangladesh, Sri Lanka and Türkiye, Says Minister
Petroleum minister says pricing reforms, greater transparency and refinery policy changes aim to strengthen Pakistan’s energy security and boost local diesel production.
A fuel station displays updated petrol and diesel prices after the government’s latest increase.
Petrol Prices in Pakistan remain lower than those in Bangladesh, Sri Lanka and Türkiye, while staying broadly comparable to India, Petroleum Minister Ali Pervaiz Malik said on Monday as the government reviewed reforms to the country’s fuel pricing mechanism.
The remarks came during a meeting of the prime minister’s committee on petroleum pricing reforms, chaired by the petroleum minister to evaluate changes aimed at improving transparency and strengthening Pakistan’s energy sector.
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According to an official statement issued after the meeting, the committee reviewed various international models for determining petroleum prices. Members recommended that the Oil and Gas Regulatory Authority (OGRA) publish daily Platts pricing data on its website, enabling the public to better understand the benchmark used to calculate domestic fuel prices.
The committee also agreed that the proposed Petroleum Price Stabilisation Fund should operate under a transparent, rules-based framework free from discretionary decision-making.
Participants endorsed the digitalisation of Pakistan’s oil supply chain to improve efficiency, monitoring and transparency across the petroleum sector.
Ali Pervaiz Malik said renewed uncertainty in global energy markets following concerns over the Strait of Hormuz had increased the importance of strengthening Pakistan’s energy policies.
Citing a KPMG study, the minister said Pakistan’s petrol prices are lower than those in Bangladesh, Sri Lanka and Türkiye and are approximately at the same level as India’s.
He also announced that the government has proposed amendments to the refinery policy to increase domestic diesel production and reduce the country’s reliance on imported diesel.
The minister said expanding local diesel production would strengthen Pakistan’s energy security and improve the resilience of its fuel supply system.
He added that the committee’s next meeting will be its final session before submitting a comprehensive set of recommendations to Prime Minister Shehbaz Sharif.
