Pakistan’s government has decided not to increase the prices of petrol and high-speed diesel despite a significant rise in international oil prices. The decision has been taken to give temporary relief to consumers who are already facing high living costs.
According to the Ministry of Energy, the government will cover the difference between global oil prices and local fuel prices by providing financial support to oil marketing companies. This step will allow fuel prices in the country to remain stable for now.
Officials said the government will pay a price difference of about Rs. 49.63 per litre on petrol and Rs. 75.05 per litre on high-speed diesel.
This payment will be made to oil marketing companies through the Oil and Gas Regulatory Authority (OGRA), which regulates fuel pricing and energy markets in Pakistan.
In total, the government is expected to spend around Rs23 billion to maintain the current petrol and diesel prices. This financial support is meant to reduce the burden on the public and prevent a sudden increase in transportation and commodity costs.
To arrange the required funds, the government has approved the creation of the Prime Minister’s Austerity Fund. The fund will have a total allocation of Rs27.1 billion. Out of this amount, Rs23 billion will be transferred to OGRA to settle the claims of oil marketing companies.
Officials say this step will help maintain stability in fuel prices in the short term while the government continues to monitor global oil market trends. Authorities added that the decision is part of broader efforts to protect consumers from the impact of rising international energy prices.
