ISLAMABAD: The federal government has issued new directives to the Oil and Gas Regulatory Authority (OGRA) regarding the daily revision of petroleum prices.
According to an official document, OGRA will publish updated fuel prices each day on its official website. These prices for petrol and diesel will be linked to the average international rates calculated over the past seven working days.
Petroleum prices will remain unchanged on Saturdays and Sundays. The authority will not require government approval to announce these daily adjustments, which will be based on the cost of imports and applicable premiums. In cases where imports are not involved, prices will be determined using the annual average premium.
The price of diesel will also be set based on imported costs and the seven-day average rate, as outlined in the directive. Additionally, the petroleum levy will not exceed the cap set by the cabinet, and any changes to this levy will need approval from the finance ministry.
Starting July 1, 2026, OGRA will be responsible for publishing international reference prices on its website daily to ensure transparency in pricing.
Furthermore, Pakistan State Oil (PSO) will only be permitted to import high-speed diesel (HSD) from the 2027 financial year onward. Oil Marketing Companies (OMCs) will be authorized to import petrol according to their market share, but violations of import terms could lead to disqualification for up to nine months.
Rates for kerosene oil and light diesel oil will also be adjusted daily. OGRA has been instructed to implement this new pricing mechanism immediately.
