The Oil & Gas Regulatory Authority (OGRA) has announced new fuel prices for one day, on Monday. The change in prices includes a small cut in the price of petrol and an increase in the price of diesel.
According to a notification, the price of petrol has been reduced by 35 paisas per litre, while the price of diesel has increased by Rs5.71 per litre.
After the revision, petrol will cost Rs315.80 per litre, while diesel will be priced at Rs360.06 per litre. The new prices will remain in effect only on July 21.
Petroleum dealers support new daily fuel price system
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.
The minister said the new daily fuel pricing system will be based on a seven day rolling average. He said the previous weekly system was also based on a seven-day average.
Ali Pervaiz Malik said the new system will make fuel pricing more transparent. He added that it will help prevent market manipulation and fuel hoarding.
He said the government will include the dealers’ suggestions while preparing the new rules.
The minister also said a meeting between the Pakistan Petroleum Dealers Association (PPDA) and OGRA will be held tomorrow to discuss dealers’ margins and other issues.
He said the government wants to build a transparent, competitive and consumer-friendly petroleum market. He also thanked the dealers for supporting the government’s reform plans.
