A balanced pressure regulator includes a valve body having a fluid inlet and a fluid outlet connected by a fluid passageway. A valve seat is disposed within the fluid passageway. A valve plug is at least partially disposed within the fluid passageway, the valve plug interacting with the valve seat to selectively open or close the fluid passageway. A retainer operatively connects the valve plug to a valve stem. A diaphragm separates a chamber from the fluid passageway and a balancing passage fluidly connects the fluid passageway with the chamber. A balancing tube extends outward, away from the retainer, fluidly connecting the fluid passageway with the balancing passage.