At a joint press conference on Saturday, Information Minister Attaullah Tarar said the government had prevented a significant increase this week, estimating that petrol prices could have risen by Rs150 per litre and diesel by Rs250.

He cautioned that global market trends remain volatile and urged a collective national strategy to conserve fuel.

“Oil prices may climb further in the coming days. We must prepare and adopt savings measures,” he said.

Petroleum Minister Ali Pervaiz Malik said the decision to keep prices unchanged was taken by the prime minister to provide relief to citizens during Eid, despite a sharp surge in global petroleum prices driven by ongoing regional conflicts.

He noted that oil prices have reached elevated levels internationally in recent weeks, adding that the government chose to absorb the pressure to avoid burdening the public.

Malik said the government has implemented strict austerity measures, allocating Rs27 billion to a special fund through cost-cutting efforts. He added that better decisions were made compared to 2022, with a focus on minimising public hardship.

Tarar said the government had already reduced its operational fuel consumption, grounding 60% of official vehicles and cutting fuel usage across departments by 50%.

He urged citizens to avoid unnecessary travel and help conserve foreign exchange reserves by reducing fuel consumption.

He added that although a proposal to increase prices was under consideration, the prime minister decided against it to ensure public relief during the festive period.