Pakistan’s Oil and Gas Regulatory Authority (Ogra) has announced a fresh price cut for fuel, marking the third consecutive daily reduction. As of the latest update, the price of petrol has been decreased by Rs3.19 to Rs329.82 per litre, while high-speed diesel has been reduced by Rs1.50 to Rs382.36 per litre.
The price cuts are a result of the government’s decision to adopt a daily pricing mechanism in response to volatile global oil markets. Under this system, Ogra updates fuel prices based on a seven-day rolling average, without requiring prior approval from the government.
Additionally, import conditions for diesel and petrol have been revised for the current fiscal year. This move is aimed at adapting to changing market conditions and ensuring a more responsive pricing system.
Article and image source: dailyk2.com
