Government Considers Weekly Revision of Petroleum Prices Amid Rising Geopolitical Tensions
The federal government is considering revising petroleum product prices on a weekly basis instead of the current fortnightly adjustment due to rising geopolitical tensions.
According to sources, the proposal suggests that the prices of petrol and diesel be reviewed every week to better align with fluctuations in the international market.
Officials said the Ministry of Energy Pakistan has prepared a working paper on the proposal and briefed Prime Minister Shehbaz Sharif. The prime minister is expected to make a final decision after consulting with the government’s economic team.
Sources added that if the situation remains serious, the federal government may take an early decision regarding the implementation of the weekly price revision mechanism.
Meanwhile, the government has also intensified monitoring to prevent hoarding of petroleum products.
Earlier, the Oil and Gas Regulatory Authority (OGRA) had stated that the country currently has sufficient reserves of petrol and diesel.
An OGRA spokesperson urged citizens not to pay attention to rumors and advised them to rely only on information issued through official sources.
