ISLAMABAD: Federal Minister for Energy Awais Ahmed Khan Leghari has stated that petrol price is likely to decrease following the reopening of the Strait of Hormuz for commercial trade today, ARY News reported.
The Federal Minister took to his X account to state that, through the extensive efforts of Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir, Pakistan has become a global flag bearer for peace.
Minister Leghari noted that the ceasefire brokered in Lebanon has allowed for the resumption of commercial trade, coinciding with the reopening of the Strait of Hormuz.
He remarked, “Insha’Allah, as a result of these efforts, petroleum prices will soon decrease, and electricity provision will improve with the renewed supply of LNG.”
Earlier, Iran announced the complete reopening of the strategically vital Strait of Hormuz, signaling a significant development amid ongoing regional de-escalation efforts.
Iranian Foreign Minister Abbas Araghchi on X (former Twitter) confirmed that the waterway has been fully opened, linking the move to the prevailing ceasefire conditions in the region, particularly in Lebanon.
According to the Iranian foreign minister, the Strait of Hormuz will remain fully operational for the duration of the ceasefire agreement between Iran and the United States. He described the decision as a step aligned with efforts to maintain stability during the truce period.
“The Strait of Hormuz has been fully reopened,” Araghchi stated, adding that the move corresponds with the ceasefire environment and aims to ensure uninterrupted maritime activity.
The Strait of Hormuz is one of the world’s most critical oil transit chokepoints, and any disruption or reopening carries major implications for global energy markets and regional security.
The announcement comes as part of broader efforts to ease tensions following recent hostilities, with the ceasefire seen as a key opportunity to stabilize the situation.