ISLAMABAD, July 22: The Oil and Gas Regulatory Authority (OGRA) on Wednesday increased the petrol price and high-speed diesel rate for one day,ARY News reported.
The price of petrol has been raised by Rs6.39 per litre, taking the new rate to Rs327.12 per litre.
Meanwhile, the price of high-speed diesel (HSD) has increased by Rs7.83 per litre, with the new price fixed at Rs375.04 per litre.
According to the notification, the revised petrol price and diesel rates will come into effect from 12:00am tonight and will remain in force for one day.
Earlier, the All Pakistan Petrol Pumps Association has postponed its planned nationwide strike after Petroleum Minister Ali Pervaiz Malik assured dealers that their concerns would be addressed.
Speaking at a joint press conference with the minister, Petrol Pump Owners Association Information Secretary Nadeem Khan said the decision was made after the government promised to resolve the industry’s demands.
“We have been assured that our issues will be addressed, so we are postponing the call to shut down petrol pumps,” Khan said. He added that the long-standing issue of dealer margins was expected to be resolved within the next two weeks.
Petroleum Dealers member Raja Waseem said the government had informed the association that the daily pricing of petrol and diesel was being implemented on a trial basis for 15 days.
He said dealers had been forced to consider a strike after facing prolonged difficulties but welcomed the government’s willingness to hold talks.
“We are thankful to the government and the petroleum minister for listening to us. We hope our issues will be resolved within two weeks,” he said.
Addressing the media, Petroleum Minister Ali Pervaiz Malik said the government was finalising a plan to settle the dealer margin issue and would send a summary to the federal cabinet.
He said both the Ministry of Petroleum and the Oil and Gas Regulatory Authority (OGRA) were committed to resolving the matter as soon as possible.
“If there is no progress, we will sit together again after two weeks,” the minister said.
Ali Pervaiz Malik also said the government had been compelled to increase petroleum prices due to the prevailing situation. He added that OGRA was adjusting fuel prices on a daily basis and pledged that the process would remain transparent and fair.