ISLAMABAD: Pakistan expects diesel prices to fall by more than Rs30 to Rs32 per litre following talks between the government and petroleum refineries, Petroleum Minister Ali Pervez Malik said on Wednesday, as authorities seek to provide relief to consumers amid high global oil prices.
Petroleum Minister Ali Pervez Malik, addressing a press conference along with Information Minister Attaullah Tarar, said the price of diesel would be reduced by more than Rs30 to Rs32 per litre following discussions with the refineries.
ڈیزل کی قیمت میں 30 سے 32 روپے کمی کا امکان ہے، علی پرویز ملک#DieselPrice #FuelPrices #EnergyUpdate #AliPervaizMalik pic.twitter.com/XshkAfIW8J
— APP (@appcsocialmedia) August 19, 2026
The announcement came after the government held talks with petroleum refinery representatives to discuss the reduction in diesel prices and its impact on consumers.
“…I am thankful to the refineries,” the minister said, highlighting that they’ve helped the government during the war by reducing the price of petroleum products.
The minister said that he would hold consultations with the refineries in Karachi on the upgradation of refineries — which has not been done “for more than seven decades”.
Tarar, while briefing journalists, said the prime minister had chaired the meeting and directed the petroleum minister and relevant officials to negotiate with oil refineries and ensure whatever relief was possible was provided to the public.
He said providing maximum possible relief to the people had remained the government’s priority, adding that the public would receive “more good news” in the coming days.
Malik said the government was fully cognisant of the difficulties and hardships being faced by the people and was making immediate efforts to provide whatever relief was possible.
He said the decision to subsidise petroleum products was also part of those efforts, while stressing that the government would continue taking every possible step to protect consumers.
The petroleum minister attributed the recent increase in petroleum prices to the escalation in the intensity of the war, saying several countries were also facing difficulties in securing diesel supplies.
He said the government had consulted with the refineries and the discussions had resulted in their decision to reduce the price of diesel by more than Rs32 per litre.
The Oil and Gas Regulatory Authority (OGRA) on Tuesday increased the prices of petrol and high-speed diesel (HSD) by Rs3.34 and Rs5.27 per litre under a new price mechanism.
Following the revision, petrol will be available at Rs334.54 per litre, while the price of high-speed diesel rises to Rs395.69 per litre.
Also Read: Pakistan PM Orders Talks With Refineries To Lower Diesel Prices
Pakistan daily fuel price review mechanism
The pakistan government shifted to a daily fuel price review mechanism amid heightened volatility in global oil markets triggered by renewed tensions in the Middle East. The move is aimed at ensuring that changes in international oil prices are reflected more quickly in domestic fuel rates.
The government had earlier replaced the fortnightly pricing system with weekly reviews following the outbreak of the Middle East conflict.
The latest escalation in regional tensions and concerns over disruptions to energy supplies through the Strait of Hormuz prompted authorities to adopt daily price revisions.
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers, and changes in its price affect the middle and lower-middle classes.
Similarly, changes in diesel prices also impact the public at large, as it is mainly used in the heavy transport sector, power plants and large generators.
Oil Tops $91
Oil prices rose for a fourth consecutive session on Wednesday as conflicting claims from the United States and Iran over shipping through the Strait of Hormuz kept markets focused on the risk of supply disruptions.
Brent crude futures gained 26 cents, or 0.29 per cent, to $91.28 a barrel in early trade. Likewise, US West Texas Intermediate crude rose 37 cents, or 0.44 per cent, to $85.31.
Both benchmarks had closed at their highest levels since July 24 in the previous session.
The latest gains came after US President Donald Trump said the Strait remained open, contradicting Iran’s position that the strategic waterway would stay closed until Washington met conditions set out in an earlier interim agreement.
The uncertainty is significant because the Strait of Hormuz normally carries about one-fifth of global oil and liquefied natural gas shipments.
Recent shipping data shows traffic has fallen dramatically: only six commodity vessels crossed on Monday, compared with a 10-day average of 11, and no very large crude carriers or LNG tankers were recorded.
The lack of clarity has made traders increasingly sensitive to developments around the waterway.
The temporary US-Iran ceasefire has expired without a broader agreement, and Washington and Tehran continue to issue conflicting statements about negotiations and the status of Hormuz.
