Petroleum Dealers Claim Govt Agrees to End Daily Fuel Price Changes

ISLAMABAD: The federal government has agreed to withdraw the daily petroleum price adjustment mechanism, according to the Petroleum Dealers Association, which announced the withdrawal of its strike call on Friday.

Following the decision, petrol stations across the country resumed operations after the association called off its planned 15-day shutdown.

Petroleum Dealers Association President Humayun Khan claimed the government had agreed to review the system of daily changes in petroleum product prices.

According to the dealers, the daily price fluctuation mechanism will be suspended for the time being. The government will also issue a summary regarding dealers’ profit margins within 15 days.

“We are thankful to the government for understanding our difficulties,” Humayun Khan said, adding that the strike call was withdrawn after the authorities agreed to consider their legitimate demands.

Earlier, the Petroleum Dealers Association had announced a nationwide strike after rejecting the government’s decision to introduce daily changes in petroleum product prices.

Meanwhile, the Oil and Gas Regulatory Authority (OGRA) increased petrol and high-speed diesel prices for the fourth consecutive day, according to a notification issued on Thursday.

The notification said petrol prices were increased by Rs4.40 per litre, taking the new price to Rs331.52 per litre. High-speed diesel prices were also raised by Rs3.62 per litre to Rs378.66 per litre.

The latest revision marked the fourth consecutive daily increase approved by OGRA.

Meanwhile, Jamaat-i-Islami (JI) chief Hafiz Naeemur Rehman rejected the federal government’s decision to determine petroleum prices daily and announced a nationwide protest campaign on August 7.