Petrol prices may see major hike from Feb 1
ISLAMABAD: The government has approved a proposal to review and update petroleum prices every seven days instead of the current 15-day cycle. The decision aims to reduce the gap between fluctuations in international oil markets and local fuel prices.
Officials say the change will allow authorities to respond more quickly to global price movements, especially as crude oil prices continue to rise due to ongoing tensions in the Middle East.
Meanwhile, the Oil and Gas Regulatory Authority (OGRA) has rejected social media rumors claiming that petrol prices will increase by Rs 73 per liter. OGRA described these reports as “completely baseless” and urged the public not to believe unverified information circulating online.
Authorities are also monitoring fuel supplies at retail outlets. Distribution is being managed based on historical sales data to prevent panic buying and hoarding, while officials have assured that sufficient fuel stocks are available in the country.
The move comes after a recent surge in global oil prices, which has significantly increased Pakistan’s fuel import costs.
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