ISLAMABAD – The government has decided to keep existing prices of all petroleum products unchanged for the next three days, while the daily price revision mechanism will resume from August 18.
According to the Petroleum Division, petrol, diesel and other petroleum product prices will remain unchanged on August 15, 16 and 17. No new prices were determined for August 15 due to the official Independence Day holiday, while the existing rates will continue on August 16 and 17 as well.
The change sparked rumours whether the prices will now be changed after every three days, but officials made it clear that there is no new petrol or diesel price change for the next three days.
Officials said OGRA will complete its routine price calculation on Monday, August 17, after taking into account key factors including international crude oil prices, the value of the Pakistani rupee, import costs and other relevant variables.
The development means consumers will not face any fresh increase or reduction in petrol and diesel prices during the next three days. Existing rates will remain applicable until the new pricing mechanism takes effect.
Once OGRA completes its calculations on August 17, the impact of international oil prices, currency movements and import costs will determine whether petrol and diesel prices in Pakistan go up, come down or remain unchanged. Petroleum Division has confirmed that daily determination and revision of petroleum prices will resume from Tuesday, August 18.
The move is crucial for consumers because under daily pricing mechanism, fluctuations in global crude oil prices can be reflected in domestic petroleum prices much more quickly.
But August 18 could bring the next major development for motorists, with petrol and diesel prices potentially moving up, down or staying at current levels, depending on the latest international oil prices, exchange-rate movements and other pricing factors.
No relief as petrol, diesel prices to remain unchanged for 3 days
