Petroleum minister invites pump owners for talks on daily fuel prices

According to reports, the meeting is scheduled for 4:00pm and will focus on dealers’ concerns regarding the new fuel pricing mechanism, an increase in sales commissions, fuel supply issues and other pending demands. The Pakistan Petrol Pump Owners Association said it wants to resolve all issues through dialogue. However, it warned that it would announce its future course of action if the talks fail to make any positive progress.

The association also said it would continue its lawful struggle to protect the democratic rights of petrol pump owners across the country. The development comes a day after the federal government issued new guidelines to the Oil and Gas Regulatory Authority (OGRA) regarding the daily adjustment of petroleum prices.

Also Read: New petrol, diesel prices announced in Pakistan

Under the new policy, OGRA will no longer require prior government approval to announce daily fuel prices. The prices will be determined based on the imported cost of petroleum products and the applicable premium. According to the official guidelines, if imported fuel is unavailable, prices will be calculated on the basis of the annual average premium.

The new mechanism also states that the price of high-speed diesel will be determined according to the imported cost and the seven-day average rate. The upcoming meeting is expected to play an important role in addressing dealers’ concerns and determining how the new daily fuel pricing system will be implemented.