Islamabad: The government is considering a major overhaul of Pakistan’s fuel pricing mechanism by introducing a system under which petroleum product prices would be revised on a daily basis instead of at fixed intervals.
According to officials, the proposed framework would significantly reduce the government’s direct role in determining fuel prices. Under the new mechanism, the Oil and Gas Regulatory Authority (OGRA) would be solely responsible for setting the prices of Motor Spirit (petrol), High-Speed Diesel (HSD), Light Diesel Oil (LDO), and Kerosene Oil (KO) every night.
If approved, the revised prices would come into effect from 12:00 a.m. each day, allowing domestic fuel rates to reflect market changes more quickly.
A senior official from the Petroleum Division said the proposal is currently under consideration, and no final decision has been announced yet. The move is aimed at making fuel pricing more transparent and responsive to fluctuations in international oil markets.
If implemented, the new pricing system would mark a significant shift in Pakistan’s petroleum pricing policy, with consumers potentially seeing changes in fuel prices every day.
