Petroleum dealers have welcomed the government’s plan to introduce daily fuel prices on Monday. They have also announced their support for the new policy.
The announcement came during a meeting between Petroleum Minister Ali Pervaiz Malik and a delegation from the Pakistan Petroleum Dealers Association (PPDA). The two sides discussed the proposed changes to the petroleum pricing system.
What will daily petrol prices in Pakistan depend on
The minister said that the new daily pricing system will be based on a seven day rolling average. He added that the previous weekly pricing system was also based on a seven day average.
Ali Pervaiz Malik said that the new system will improve transparency and help reduce market manipulation and fuel hoarding.
He also assured the dealers that their suggestions would be considered while preparing the new rules and regulations.
The minister said a meeting between the PPDA and OGRA has been scheduled for tomorrow to discuss dealers’ margins and other related issues.
He further added that the government is committed to creating a transparent, competitive and consumer friendly petroleum market. He also thanked the dealers for supporting the government’s reform plans.
During the meeting, the PPDA praised the government for ensuring an uninterrupted supply of petroleum products during the Strait of Hormuz crisis.
The association said Pakistan maintained a stable fuel supply despite concerns about global shortages.
The PPDA also asked the government to include petroleum dealers in the process of preparing regulations for oil marketing companies. It also demanded that the dealers’ margin be increased to 8 per cent.
The petroleum minister assured the delegation that the demand would be considered.
How to check new OGRA petrol price every day?
Federal Minister for Petroleum Ali Pervaiz Malik said that the Oil and Gas Regulatory Authority (OGRA) will determine petroleum prices every day. The new petrol prices in Pakistan will be published on the OGRA website, according to the details.
‘OGRA to decide petroleum product prices daily’
The federal government has decided that petroleum prices will now be set on a daily basis, Federal Minister for Petroleum Ali Pervaiz Malik said on Friday.
Speaking alongside Federal Minister for Information and Broadcasting Attaullah Tarar, Malik said the decision was approved by the prime minister and the federal cabinet.
