Pakistan adopts new daily fuel price formula to boost transparency

The Petroleum Pricing Committee held its fifth meeting, chaired by Federal Minister for Petroleum Ali Provez Malik. Participants reviewed proposals for phased deregulation of the oil sector and a new pricing mechanism that sets daily fuel prices through a published formula. The committee praised the system for increasing transparency and reducing unnecessary price volatility.

The meeting announced the launch of an online dashboard on the Oil & Gas Development Company Limited website, providing real‑time pricing data, formulas and related information to consumers, investors and regulators. Officials also discussed digitalising the petroleum supply chain, establishing strategic petroleum reserves, a price‑stabilisation fund, and potential restrictions on new oil‑marketing companies. The committee will continue to refine reforms to ensure market competition, efficiency and consumer protection.