Islamabad: Pakistan’s Petroleum Minister has announced that the government will implement a daily fuel pricing mechanism aimed at increasing transparency, preventing market abuse, and ensuring consumers pay fair, market-based prices.
Speaking on the new policy, the minister said that daily adjustments will allow fuel prices to reflect fluctuations in international oil markets more accurately. The move is expected to reduce pricing distortions caused by delayed revisions and strengthen public confidence in the country’s petroleum pricing system.
Under the new mechanism, the Oil and Gas Regulatory Authority (OGRA) will publish updated fuel prices every day, along with the factors used in determining them. According to the minister, this will make the pricing process more transparent and limit opportunities for unfair practices in the market.
The government also believes that the policy will reduce political interference in fuel price decisions and encourage greater competition within the petroleum sector.
The daily pricing system comes at a time when global oil prices remain volatile, prompting the government to adopt a more responsive approach to fuel pricing. Officials say the reform is intended to protect consumers while ensuring that domestic fuel prices remain aligned with international market trends.
