OGRA to notify fuel prices based on seven-day international average under new mechanism
ISLAMABAD: Pakistan will introduce a daily pricing mechanism for petrol and diesel, with the Oil and Gas Regulatory Authority (OGRA) determining fuel prices according to international market trends, Petroleum Minister Ali Pervez Malik announced on Friday.
Speaking at a press conference alongside the Information Minister in Islamabad, Malik said OGRA would calculate and notify petrol and diesel prices every day without requiring prior approval from the federal government.
According to the minister, the new system will use the average international price over the previous seven days as the benchmark for setting domestic fuel prices. He said the mechanism is designed to improve transparency and enable consumers to better understand how fuel prices are determined.
Malik added that OGRA will publish its daily pricing decisions on its official website, allowing the public to monitor changes linked to fluctuations in global petroleum markets.
Government moves toward deregulation
The petroleum minister said the new pricing framework forms part of the government’s broader plan to deregulate the petroleum sector. He maintained that the revised mechanism would not impose any additional financial burden on consumers and would allow fuel prices to reflect international market conditions more efficiently.
He also said the government’s objective is to create a transparent and market-based pricing system while strengthening regulatory oversight.
Authorities warn against profiteering
Meanwhile, Malik said Prime Minister Shehbaz Sharif has directed law enforcement agencies to take strict action against illegal profiteering following the implementation of the new pricing mechanism.
The minister stated that authorities would closely monitor the market to prevent unjustified price increases and ensure compliance with government regulations.
He further assured the public that Pakistan’s petroleum supplies remain stable, adding that the country currently holds fuel stocks sufficient for approximately one and a half to two months.
The government expects the new daily pricing system to align domestic fuel prices more closely with international market movements while improving transparency and maintaining adequate fuel availability across the country.
جو فیصلہ کررہے ہیں وہ تکلیف دہ ضرور ہوگا پر —– وزیر پیٹرولیم علی پرویز ملک کی اہم گفتگو#ARYNews pic.twitter.com/21GtHYuxZb
— ARY NEWS (@ARYNEWSOFFICIAL) July 17, 2026
