Pakistan Lowers Petrol Prices and Develops Energy Security Framework

The Government of Pakistan reduced the price of petrol to Rs 369.06 per litre effective November 4, following a downward trend in international oil markets. This follows an earlier reduction on November 3 that brought petrol to Rs 374.51 and diesel to Rs 395.20 per litre. While petrol prices fell, the government increased the price of high-speed diesel by Rs 3.68 per litre to Rs 395.20.

To prevent a scheduled price hike of Rs 15 per litre on November 7, Petroleum Minister Ali Pervaiz Malik coordinated an agreement with local oil refineries. The refineries agreed to absorb approximately Rs 15 billion per month for 30 days, using profits from high throughput over the previous three months. This measure aligns with a new government petrol pricing formula designed to pass global price declines to the public.

Simultaneously, Information Minister Attaullah Tarar reported that the Prime Minister’s Fuel Relief Scheme has distributed Rs 27 billion in aid to over 15 million vehicle owners, including motorcyclists and rickshaw drivers.

Addressing broader infrastructure issues, government officials acknowledged systemic failures in strategic fuel storage and refinery capacity. These failures have contributed to LPG shortages caused by western border disruptions and winter gas demand spikes. The government is now developing a comprehensive energy security framework to reduce the country's vulnerability to international conflicts.