ISLAMABAD: The federal government is considering a shift from the current fortnightly petroleum pricing mechanism to a weekly review system, according to sources familiar with the development.
The proposal, aimed at stabilising the domestic market and discouraging hoarding by dealers, comes in response to heightened price volatility and supply chain concerns following the closure of the Strait of Hormuz.
The summary for weekly price revisions is expected to be presented to the Economic Coordination Committee (ECC) of the Cabinet for immediate consideration. Officials believe that more frequent adjustments will allow the government to align domestic rates more closely with rapidly changing international oil prices, thereby reducing the incentive for stakeholders to stock up on fuel in anticipation of 15-day hikes.
The move is part of a broader energy contingency plan chaired by Finance Minister Muhammad Aurangzeb. Despite the proposed changes, the government has assured the public that current stocks of petrol and diesel remain sufficient, with reserves covering approximately 25 to 28 days of national demand. Alongside the pricing shift, authorities are also exploring alternative oil import routes through the Red Sea to ensure an uninterrupted supply.
