Pakistan considers weekly petrol price review amid Iran-US tensions

2026-03-05 - 09:23

ISLAMABAD – The federal government has considered a shift to weekly petrol and diesel price adjustments amid rising geopolitical tensions between the Iran, United States and Israel, and fluctuations in the global oil market, sources told private media on Wednesday. The officials said that the current 15-day review system for petroleum products is being evaluated to make it more responsive to international price changes. The Ministry of Energy has prepared a detailed working paper and briefed the Prime Minister, who will make the final decision after consultation with his economic team. Under the proposed plan, fuel prices will be adjusted weekly to allow quick alignment with global crude oil price movements. The sources indicated that if global tensions persist, the government may implement the new pricing mechanism soon to stabilize the local fuel market. In addition, the government has tightened monitoring of petroleum supplies to prevent artificial shortages and hoarding. The authorities have been directed to closely track fuel stocks and distribution, ensuring that unauthorized profiteering or hoarding is strictly avoided. The experts say that the move is aimed at protecting consumers from sudden price shocks and maintaining market stability in the face of volatile global crude oil prices. Petrol pump owners warn of potential fuel shortage in Pakistan due to quota system