Pakistan changes petrol pricing formula under new ...

Summary

• ISLAMABAD: The federal government has revised the mechanism used to determine petrol prices in Pakistan introducing a new formula based on the actual cost of imported fuel and adjustments to refinery pricing.
• Under the revised arrangement the import price of petrol will be calculated using the actual cost of cargo imported by Pakistan State Oil (PSO).
• The revised mechanism also outlines how the difference between imported petrol prices and refinery prices will be handled.

AI Generated Summary

ISLAMABAD: The federal government has revised the mechanism used to determine petrol prices in Pakistan introducing a new formula based on the actual cost of imported fuel and adjustments to refinery pricing.

The Petroleum Division’s Directorate General of Oil has informed the Oil and Gas Regulatory Authority (OGRA) about the revised pricing mechanism through an official letter. According to the communication the new formula has already received approval from the federal cabinet.