Lahore, November 27, 2023 : The oil marketing association has dismissed the caretaker government’s decision to evaluate fuel prices on a weekly basis.
In a letter addressed to the Ministry of Petroleum and the chairman of the Oil and Gas Regulatory Authority (OGRA), the chairman of the Oil Marketing Association (OMA) has expressed opposition to the weekly review of fuel prices.
According to the OMA, the implementation of weekly fuel price reviews would impose additional costs and challenges, leading to difficulties for consumers, the transportation sector, and other industries.
Previously, the All Pakistan Petroleum Dealers Association rejected the proposal, asserting that determining petroleum product prices on a weekly basis is not feasible.
On November 24, the Pakistani Government opted to adjust petroleum product prices weekly and requested input from stakeholders and the Petroleum Dealers Association regarding the shift from bi-weekly to weekly pricing.
In an official communication, the government urged stakeholders to provide “meaningful views/comments, including the advantages and disadvantages of transitioning from fortnightly to weekly pricing, if any, within five working days.”
It is important to note that the PTI-led government, in 2020, introduced a bi-weekly pricing mechanism for petroleum products, transitioning from the price benchmark tied to Pakistan State Oil (PSO) oil imports to Platts indexes.
