Overview
- The federal cabinet last week authorised OGRA to publish ex‑depot petrol and high‑speed diesel prices every working day using a seven‑working‑day international average, removing the need for separate cabinet approval.
- OGRA applied the new formula in rapid succession, first adjusting prices for July 21 and then raising petrol and diesel again for July 22, with diesel seeing larger increases that will raise transport and input costs.
- The government also rewrote import rules so Pakistan State Oil will be the exclusive diesel importer for the fiscal year while OMCs may import petrol by market share, and it authorised penalties for import breaches.
- Dealers and pump‑owner groups rejected the daily moves over fixed low commissions and unpredictability, announced 24‑hour and indefinite shutdowns starting late July 22, and filed at least one legal challenge to the policy.
- Officials ordered daily publication of Platts reference prices and kept fiscal levers such as the petroleum levy and OMC margins under central control, while agencies were empowered to act against hoarding to protect supplies.