Federal Minister for Petroleum Ali Pervaiz Malik told the National Assembly on Tuesday that petroleum prices are set under a transparent formula based on a seven-day average. He was responding to a calling attention notice about the daily determination of prices, which replaced the earlier fortnightly mechanism.
The minister said the Oil and Gas Regulatory Authority (OGRA) calculates prices on that seven-day basis and has published the formula on its website. He added that the approach keeps domestic rates aligned with international markets, so global price swings are reflected locally.
| Product | Previous | New | Change |
|---|---|---|---|
| Petrol (per litre) | Rs 386.3017 Oct 2026 | Rs 381.14from 20 Oct 2026 | ▼ Rs 5.16 (−1.34%) |
| High-Speed Diesel (per litre) | Rs 396.9617 Oct 2026 | Rs 389.27from 20 Oct 2026 | ▼ Rs 7.69 (−1.94%) |
Source: OGRA notified prices. Data: OilPrices.pk, CC BY 4.0. Prices are maximum ex-depot rates; retail pumps may differ slightly.
Why the government moved to daily pricing
Malik said prices were once revised annually, before the practice shifted to monthly and later fortnightly adjustments. He said Pakistan imports all of its oil requirements, and volatility in global markets made it necessary to secure an uninterrupted supply chain and prevent profiteering and hoarding.
He said international oil trends usually become clearer after three to four days, showing whether prices are rising or falling. According to the minister, the existing mechanism has helped improve fuel availability at petrol pumps and eased difficulties for consumers. The government introduced the seven-day average to address supply-related issues and ensure products are available nationwide.
Refinery margin cap cuts diesel and petrol prices
The minister told the House that, at the prime minister’s request, refineries had once again reduced their gross refining margins. A cap of $38 had been imposed on the crack margin.
He said the measure reduced the price of high-speed diesel by Rs7.69 per litre the previous day, while petrol prices also recorded a considerable decrease.
