Daily Petrol Prices? Pakistan Unveils New Fuel System
News Desk
Islamabad: Pakistan has introduced sweeping changes to its petroleum pricing and import framework, replacing the long-standing fortnightly review system with daily fuel price revisions as part of broader reforms aimed at making the domestic market more responsive to international oil trends.
Under the new cabinet-approved mechanism, the Oil and Gas Regulatory Authority (OGRA) will independently notify daily ex-depot prices of petrol and high-speed diesel based on the average international benchmark prices of the previous seven days. The revised rates will be published on the regulator’s website each day, while prices announced on Fridays will remain effective over the weekend.
The reforms are intended to ensure that changes in global oil prices are reflected more quickly in the local market, reducing delays in passing on price increases or decreases to consumers.
Alongside the pricing overhaul, the government has tightened fuel import regulations for the 2026-27 fiscal year. Pakistan State Oil (PSO) will remain the sole importer of high-speed diesel, while oil marketing companies will be permitted to import petrol according to their respective market shares.
Companies failing to fulfil their import or upliftment obligations may face restrictions on fresh import permissions for up to nine months, according to official documents.
The new framework also maintains a cap on the petroleum levy at the level approved by the federal cabinet, with any future revision requiring approval from the Finance Division.
Petroleum Minister Ali Pervaiz Malik said the daily pricing mechanism aligns Pakistan with international practices by allowing domestic fuel prices to respond more rapidly to fluctuations in global petroleum markets.
The policy extends beyond petrol and diesel, with kerosene oil and light diesel oil also coming under the daily pricing regime. Authorities have been directed to implement the new mechanism with immediate effect.
