The Pakistan government is considering reintroducing the “Corona-era formula” for determining petrol and diesel prices.
Media reports suggests that the move aims to stabilize fuel supply and prices amid regional tensions in the Middle East that could disrupt petroleum imports and create market instability.
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Weekly Price Adjustments Proposed
Officials are reviewing proposals to fix petrol and diesel prices on a weekly basis, instead of the current monthly or bi-weekly system.
The main goal is to prevent hoarding by dealers, as news of potential price hikes could prompt stockpiling, leading to artificial shortages in the market.
Pakistan oil companies set quotas for pumps amid petrol price hike concerns
Immediate Price Hikes Possible
According to media reports, if regional tensions persist, petrol prices could rise by up to PKR 20 per liter and diesel prices by PKR 45 per liter in the coming days.
The government aims to ensure continuous supply of petroleum products and to quickly pass on global market price changes to consumers.
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Regional Conflict and Fuel Supply
The proposal comes amid escalating conflicts in the Middle East, where ongoing tensions between the United States, Israel, and Iran have disrupted global crude oil shipments.
During the Covid-19 pandemic, Pakistan had successfully implemented a weekly pricing mechanism to maintain fuel availability and control artificial shortages, and authorities are now considering applying the same system to address current supply risks.
