Pakistan Approves Daily Petroleum Pricing System; OGRA to Announce Fuel Prices Every Day
ISLAMABAD: The federal cabinet has approved a new daily pricing mechanism for petroleum products under which the Oil and Gas Regulatory Authority (OGRA) will announce the ex-depot prices of petrol and diesel on a daily basis without requiring prior approval from the Prime Minister or the federal government.
According to official details, the prices of petrol and high-speed diesel will now be determined on the basis of the average international market prices recorded over the previous seven working days. The new mechanism aims to align domestic fuel prices more closely with global market trends.
Under the revised policy, OGRA will be authorized to issue daily price notifications independently. However, the prices announced on Fridays will remain applicable during weekends, with no changes to be made on Saturdays and Sundays.
OGRA has also stated that, effective from July 1, 2026, daily Platts reference prices will be published on its official website to ensure greater transparency in the pricing process.
The government has clarified that the petroleum levy cannot exceed the limit approved by the federal cabinet. Any changes in the levy rate will continue to require approval from the Finance Division.
For the fiscal year 2026-27, the import of high-speed diesel will be restricted exclusively to Pakistan State Oil (PSO), while oil marketing companies will be permitted to import petrol according to their respective market shares. Companies failing to meet import or upliftment obligations may face restrictions on obtaining fresh import permissions for up to nine months.
The new daily pricing mechanism will also apply to kerosene oil and light diesel oil.
The federal cabinet has directed OGRA to ensure the immediate implementation of the new petroleum pricing system, which is expected to improve transparency and make fuel price adjustments more responsive to international market fluctuations.
