Petroleum Minister Ali Pervaiz Malik said on Thursday that Prime Minister Shehbaz Sharif has directed authorities to immediately pass on the benefit of declining international oil prices to consumers amid easing tensions in the Middle East. In a post on social media on Thursday, the minister said, “International oil prices are falling, and the prime minister has directed that this benefit be passed on to the public immediately.” The minister said that “a high-level committee had been constituted to devise a transparent weekly fuel pricing mechanism … so that in the future, whenever needed, the public can understand the reasons for changes in prices.” Malik added the work would be completed “in full consultation with all stakeholders”. Referring to regional developments, Malik said, “The efforts of the prime minister, field marshal, foreign minister, and interior minister are bearing fruit, as Iran and the United States are moving toward signing a ceasefire agreement.” The minister also thanked industry partners and the public for helping the government maintain the country’s oil supply chain without major disruptions during the recent period of uncertainty.