Details of the new petroleum products pricing mechanism approved by the federal cabinet have emerged, introducing a new system under which the Oil and Gas Regulatory Authority (OGRA) will issue the ex-depot prices of petrol and high-speed diesel on a daily basis.
Under the newly approved pricing mechanism, OGRA will announce the prices of petrol and high-speed diesel without requiring separate approval from the Prime Minister or the federal government.
According to official documents, OGRA will determine the new prices based on the average international prices recorded over the previous seven days. The documents further state that the prices announced before the weekend will remain unchanged on Saturday and Sunday.
The new system also provides for the daily pricing of kerosene oil and light diesel oil. Under the mechanism, the petroleum levy cannot exceed the limit set by the federal cabinet, while any change in the levy rate will only be possible with the approval of the Finance Division.
Also Read: OGRA to Set Daily Petroleum Prices Based on Global Market Trends
According to the documents, during the 2026-27 fiscal year, the import of high-speed diesel will be carried out exclusively through Pakistan State Oil (PSO). Oil marketing companies will, however, be allowed to import petrol according to their respective market share.
The documents further state that any oil marketing company that defaults on imports or upliftment will not be granted a new import permit for nine months.
The federal government has also directed the relevant authorities to ensure the immediate implementation of the new petroleum pricing mechanism.
