ISLAMABAD: Pakistan’s federal cabinet has approved a new daily pricing mechanism for petroleum products, authorizing the Oil and Gas Regulatory Authority (OGRA) to announce ex-depot prices of petrol and diesel on a daily basis.
Under the new system, OGRA will no longer require prior approval from the Prime Minister or the federal government before issuing fuel price notifications, granting the regulator greater autonomy in determining daily petroleum prices.
According to OGRA, the prices announced on Fridays will remain effective throughout Saturday and Sunday. The authority also stated that, effective from July 1, 2026, daily Platts reference prices will be published on its official website to improve transparency in the fuel pricing process.
The move is aimed at introducing a more responsive pricing mechanism that reflects fluctuations in international petroleum markets while streamlining the process of updating domestic fuel prices.