ISLAMABAD: The government may suspend the daily petroleum price change system after reaching an agreement with fuel dealers, who have called off their nationwide strike after having some assurance over their concerns.
According to the Petroleum Dealers Association, the government has promised to re-evaluate the process of daily price fluctuations for petrol and diesel, while a report on the profit margin of dealers would be prepared in 15 days.
President of Petroleum Dealers Association Humayun Khan announced the cancellation of the strike call on Friday, saying that this step has been decided after the government’s willingness to consider their demands.
As per the latest development, fuel stations across the country have resumed their business after threatening the nation with a 15-day nationwide shutdown against the daily fuel price revision policy.
This controversy arose after the Oil and Gas Regulatory Authority (OGRA) approved the consecutive hikes in petroleum prices. Prices of petrol were hiked to Rs. 331.52 per litre after increasing by Rs. 4.40 per litre, while prices of high-speed diesel were increased by Rs. 3.62 per litre to Rs. 378.66 per litre.
This revision comes as the fourth consecutive daily hike in the petroleum prices.
