Pakistan, June 29 -- Petroleum Minister Ali Pervaiz Malik has confirmed that Pakistan is considering cheaper oil and gas purchases from Iran, days after a temporary easing of US sanctions reopened a door kept shut for years. His assurance that the government is working to reduce fuel prices, and that "good times are coming now," will be heard closely by consumers who have just seen petrol and high-speed diesel kept unchanged at Rs 299.50 and Rs 311.47 a litre after last week's cut.

The question in the market is simple. If global crude has eased and tankers are once again moving through the Strait of Hormuz, why has relief abroad not brought another cut at home? The opposition says the government is protecting oil companies. That charge m...