Petrol price cut raises questions over delayed relief

November 3, 2026

Petroleum Minister Ali Pervaiz Malik has said petrol prices could be reduced by Rs15 per litre under a proposed new pricing formula, provided oil refineries agree to cooperate with the government. Speaking at a press conference in Islamabad on Monday alongside Information Minister Attaullah Tarar, Malik said providing relief to the public was a major priority of Prime Minister Shehbaz Sharif. He said the government would meet representatives of oil refineries on Tuesday to discuss the proposed formula and other related matters. The minister expressed hope that their cooperation would help reduce petrol prices by Rs15 per litre.

However, the announcement raises an important question: if a pricing formula already exists that can reduce petrol prices by Rs15 per litre, why was it not introduced earlier? Why should consumers have to wait for another meeting with oil refineries to receive relief that the government now says is possible? Millions of Pakistanis are struggling with high living costs, and petrol prices directly affect household budgets, transport fares and the prices of daily necessities. Any reduction would provide some relief to consumers, but the government needs to explain why such an option was not considered or implemented before.

Malik said the government was exploring different ways to reduce the burden of fuel prices on consumers. However, he made it clear that the proposed reduction would depend on the outcome of discussions with oil refineries. Information Minister Attaullah Tarar said Prime Minister Shehbaz Sharif had issued strict instructions to prevent a Rs15 per litre increase in petrol prices. He added that the government had already provided Rs27 billion in relief to consumers through its petrol relief measures.

While the government’s efforts to prevent another increase may offer temporary relief, consumers deserve a clear and transparent explanation of how fuel prices are calculated. The government should also clarify whether the proposed formula will ensure lasting relief or simply provide a temporary reduction. If cooperation from refineries is necessary, it must explain what arrangements can make such cooperation possible in the future. For ordinary citizens, the real question is not whether petrol prices can be reduced, but why affordable fuel remains so difficult to provide.