Pakistan’s federal government has approved a new fuel pricing mechanism under which petrol and diesel prices will now be reviewed and adjusted on a daily basis in line with fluctuations in international oil markets.
Petroleum Minister Ali Pervaiz Malik announced that the Oil and Gas Regulatory Authority (OGRA) will publish updated fuel prices every day on its official website as part of the government’s broader plan to deregulate the petroleum sector and improve pricing transparency.
According to the government, the new system is designed to ensure that changes in global oil prices are reflected in domestic fuel rates more quickly, allowing consumers and businesses to benefit from price reductions without unnecessary delays while also responding promptly to increases in international costs.
Officials have clarified that targeted fuel subsidies will continue for eligible segments to help reduce the impact on vulnerable consumers.
To ensure a smooth transition, the government has also directed authorities to take strict action against fuel hoarding, artificial shortages, and profiteering.
Regulatory agencies will closely monitor the market to prevent any attempts to exploit the new pricing system and to ensure a stable fuel supply across the country.
