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Pakistan and Nigeria fuel policy adjustments

Updated 4 times since CLSTR started tracking revisions of this situation.

What changed

2026-07-30 01:42 UTC → 2026-07-31 09:17 UTC · added removed

In early July, July 2024 Nigeria and Pakistan were reported to be adjusting fuel policies amid volatile oil prices, though no details were given. prices. By late July, July 2024 Pakistan’s cabinet formally approved a package of amendments to the Pakistan Oil Refining Policy 2023. The reforms aim to modernise existing brownfield refineries so they can produce Euro‑4 and Euro‑5 fuels, reduce reliance on imported refined products and help meet international emissions commitments. The government earmarked US$5‑6 billion for 2023, targeting Euro‑4/Euro‑5 fuel production, domestic refinery upgrades and introduced incentives, including upgrades, a US$5‑6 billion investment plan, 10 % tariff protection on for motor spirit and high‑speed diesel for seven years, diesel, escrow financing, financing and sales‑tax exemptions for imported equipment. Simultaneously, exemptions. Prime Minister Shehbaz Sharif directed the also ordered an expansion of the country’s strategic petroleum reserves to strengthen energy security. Officials plan and announced a modest Rs 0.75‑per‑litre petrol cut while raising diesel prices, alongside roadshows in Qatar, Saudi Arabia and other Gulf states to attract investment. investors. Two years later, on 28 July 2026 the Cabinet Committee on Energy reaffirmed those policy amendments and again directed the expansion of strategic reserves as a pillar of energy‑security strategy. The following day after the cabinet approval, Pakistan announced government instituted a modest petrol‑price cut (Rs bi‑weekly price revision: petrol was reduced by Rs 0.75 to Rs 336.06 per litre and high‑speed diesel was raised by Rs 2.24 to Rs 336.06) and 390.62. The petroleum minister noted that the IMF would not approve a diesel price rise, framed as part cut to the petroleum levy, but pledged to restore a targeted subsidy for low‑income households if international oil prices climb. Concurrently, a phased deregulation of broader efforts the petroleum market was approved, aiming to stabilise consumer energy costs while supporting lower the refinery reforms. crack spread for diesel, reduce depot points, launch a public price dashboard and promote digitalisation of the supply chain. No further information on Nigeria’s fuel‑policy public actions has from Nigeria have been reported since the initial mention. reported.

Versions

  1. 2026-07-31 09:17 UTC Pakistan and Nigeria fuel policy adjustments
  2. 2026-07-30 01:42 UTC Pakistan and Nigeria fuel policy adjustments
  3. 2026-07-30 01:41 UTC Pakistan oil refining reforms, reserve expansion
  4. 2026-07-30 01:36 UTC Pakistan and Nigeria fuel policy adjustments
  5. 2026-07-28 11:04 UTC Pakistan and Nigeria fuel policy adjustments

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