It has been decided to fix the prices of petroleum products on a 15-day basis from September 1. The government has decided through the Economic Coordination Committee (ECC) and directed concerned departments to follow the guidelines, the Petroleum department earlier wrote a letter to concerned authorities in which it stated key points to determine the petroleum prices.
The ECC had on July 28 approved a revision in the prices of petroleum products every 15 days from August 1. However, due to the delay in approval by the Cabinet, it could not be implemented from August. The appointment will be made for 15 days.
In this regard, the Petroleum Division has issued instructions and guidelines to OGRA and other oil companies. Petrol and diesel prices will be fixed under the new policy while the usual pricing of other petroleum products has been maintained. The price of petrol and diesel will be determined by averaging the 14-day average price of crude oil. Now the petrol prices in Pakistan would change every 15 days in the future starting from September 1.