Rana Sanaullah Signals Further Drop in Pakistan Petrol Prices as Global Oil Markets Ease Following US-Iran De-escalation

Prime Minister’s Adviser Rana Sanaullah has indicated that Pakistani consumers may soon see further relief at the fuel pump, as falling international crude oil prices following the de-escalation of US-Iran tensions create favorable conditions for a domestic petrol price reduction.

Rana Sanaullah confirmed that the government has taken proactive steps to monitor global energy markets. He revealed that “the government has formed a dedicated team to monitor developments in petroleum markets and assess their impact on domestic petrol prices,” signaling a structured and responsive approach to managing fuel pricing in Pakistan.

The adviser explained the background of recent price pressures, noting that global oil prices had surged sharply during the US-Israel and Iran conflict amid widespread concerns over regional stability and potential disruptions to energy supplies. In response to the uncertainty and market volatility, the Pakistani government had adopted a weekly review mechanism for petroleum prices to ensure timely and accurate adjustments.

Addressing criticism directed at oil marketing companies, Rana Sanaullah clarified that companies were required to purchase fuel at elevated prices during the period of volatility to maintain adequate stock levels. He acknowledged that allegations of excessive profits during the crisis did not fully reflect the realities of market fluctuations, adding that while companies may benefit from price movements at certain times, they also face losses when market conditions reverse.

The adviser assured the public that the government would thoroughly review the extent of gains and losses within the petroleum sector while ensuring that the pricing system continues to function smoothly and transparently.

On the question of consumer relief, Rana Sanaullah was clear and firm in his commitment. He stressed that “the government remains committed to passing on the benefits of lower international oil prices to consumers.” However, he issued a stern warning, stating that “any attempt to create an artificial fuel shortage or market disruption would be dealt with strictly.”

The statements come at a time when international crude oil markets have registered a notable decline. Brent crude fell more than one percent on Thursday, slipping below its closing level recorded on the eve of the Middle East war, as investors grew increasingly optimistic about the progress of US-Iran peace talks and shipping continued to flow normally through the critical Strait of Hormuz. The August contract for Brent crude hit a low of $72.44 a barrel, compared with the February 27 close of $72.48 — a dramatic reversal from the peak of $119 per barrel reached in the weeks following the commencement of US and Israeli strikes on Iran on February 28.

If the current downward trajectory in global oil prices is sustained, analysts and government officials both anticipate that Pakistani consumers will benefit from meaningful reductions in petrol prices in the coming review cycles.