OGRA has once again increased petroleum product prices and issued a fresh notification. The price of petrol has been raised by Rs4.93 per litre, taking the new price to Rs320.73 per litre, while the price of high-speed diesel has been increased by Rs7.15 per litre, bringing its new price to Rs367.21 per litre.
According to the government, the revision in petroleum prices has been made after considering international oil prices, the exchange rate of the Pakistani rupee, and other relevant factors.
Following the latest increase, citizens have expressed concern that higher fuel prices will not only raise transportation costs but could also lead to an increase in the prices of essential commodities.
Meanwhile, significant developments are underway in the federal capital regarding the government’s decision to introduce daily pricing of petrol and diesel. However, negotiations between the government and petroleum dealers have so far failed to produce a final agreement.
Despite holding several meetings with petroleum dealers’ representatives from Karachi and Lahore, Petroleum Minister Ali Pervaiz has been unable to convince them to accept the proposed daily fuel pricing system.
According to media reports, after meeting with the Petroleum Minister, a delegation of the Pakistan Petroleum Dealers Association (PPDA) also held talks with the Chairman of OGRA and the Petroleum Secretary.
The meeting between the PPDA delegation and the OGRA chairman lasted approximately two and a half hours, during which the dealers voiced their reservations about the proposed daily pricing mechanism.
In a video statement, Nauman Ali Butt, General Secretary of the All Pakistan Petrol Pumps Association, said that negotiations with the Ministry of Petroleum had failed. He stated that the association would not accept daily changes in petroleum prices under any circumstances and rejected the government’s proposed daily pricing mechanism.
Nationwide strike announced
Nauman Ali Butt announced that following the breakdown of negotiations, petrol pumps across Pakistan will remain closed indefinitely from 12:00 midnight.
What is the government’s new pricing mechanism?
It is worth noting that the government has decided to introduce a new pricing mechanism for petroleum products, under which OGRA will issue the ex-depot prices of petrol and high-speed diesel on a daily basis.
Under the new system, fuel prices will be calculated based on the average international prices of the previous seven days, while the prices announced on Saturday and Sunday will remain unchanged.
