ISLAMABAD – The federal government is considering replacing the existing fortnightly petroleum pricing system with a daily price adjustment mechanism, under which the Oil and Gas Regulatory Authority (OGRA) would determine fuel prices every night.
The informed sources said that the proposed mechanism would substantially reduce the government’s role in setting petroleum prices, giving OGRA the sole authority to determine the rates of major petroleum products on a daily basis.
A senior Petroleum Division official said the regulator would be responsible for fixing the prices of motor spirit (petrol), high-speed diesel (HSD), light diesel oil (LDO), and kerosene oil. The revised prices would be announced every night and would take effect from 12:00 am the following day.
Sources said the proposed system is aimed at making domestic fuel prices more responsive to fluctuations in international oil markets while ensuring greater transparency in the pricing process.
The proposal is currently under review, and the government has yet to make a final decision on its implementation.
