Pakistan’s Petroleum Minister Ali Pervaiz Malik said global petroleum prices have declined after remarks by Donald Trump. However, he suggested petrol prices in Pakistan may not change significantly due to current conditions. The statement comes as the government faces pressure over rising fuel costs.
Speaking on a television program, Malik said the government had to pass a heavy fuel price burden onto the public. He explained that global diesel prices had reached $150 per barrel when the government announced the increase. However, he noted that international petroleum prices dropped after Trump’s recent comments.
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Despite the decline, Malik said the situation remains uncertain due to ongoing global tensions. He said petrol prices in Pakistan may not see major fluctuations in the near future. The minister added that Prime Minister Shehbaz Sharif had directed authorities to control costs through austerity if prices rise again.
Malik also highlighted Pakistan’s heavy dependence on imported energy. He said around 90 percent of the country’s energy needs are met through imports. The minister noted that economic stability had been pursued through cooperation with the International Monetary Fund.
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The minister added that fuel supply from Gulf countries continues to support Pakistan’s energy needs. He said Saudi Arabia and the United Arab Emirates are helping maintain petrol shipments. Malik also said Russian oil may benefit companies commercially but may not provide significant relief to consumers.