Muhammad Aurangzeb has stated that any decision regarding changes in petrol prices will be formally announced by the Ministry of Petroleum.
According to Beyond Time News, the finance minister clarified that the responsibility for setting and announcing petroleum product prices lies with the relevant ministry. He added that the government is currently reviewing possible measures to provide relief to the public.
Aurangzeb further noted that authorities are closely monitoring global oil price movements and their impact on the domestic economy, while efforts continue to stabilize the overall economic situation.
Oil Prices Rise as Markets Weigh Middle East Peace Prospects
Global Oil Market Sees Sharp Movement
International oil prices rose on Friday following renewed tensions between the United States and Iran, raising concerns over a fragile ceasefire and uncertainty around the Strait of Hormuz, a key global energy route.
Brent crude futures increased by 0.67% to $100.73 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by 0.47% to $95.26 per barrel.
The gains came after a brief decline earlier in the week, when reports suggested possible diplomatic progress between Washington and Tehran. Despite the rebound, both benchmarks remain on track to post weekly losses.
Market analysts say uncertainty in the region continues to influence price volatility, with concerns over potential disruptions in oil supply routes remaining a key factor.
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