Senate panel questions justification for daily petrol pricing mechanism

ISLAMABAD: The Senate Standing Committee on Petroleum has sought a detailed briefing from the Petroleum Division and the Oil and Gas Regulatory Authority (OGRA) on the mechanism adopted for the daily fixation of petroleum product prices, its justification, and its impact on consumers and the economy.

According to the official meeting notice, the committee will meet on Thursday, July 30, 2026, at Parliament House in Islamabad.

The committee’s agenda includes a briefing by the Petroleum Division and the OGRA chairman on the rationale behind the daily petroleum pricing mechanism and its implications for consumers and the national economy.

The committee will also receive a briefing on the current status of the Reko Diq project, including project delays, cost escalation, financing arrangements, implementation timelines, and the determination of responsibility for any lapses or failures affecting its timely execution and completion.

In addition, the Petroleum Division, Pakistan Refinery Limited (PRL), Attock Refinery Limited (ARL), Mari Energies Ltd, and MOL Pakistan will brief the committee on the composition of their boards of directors, the criteria used for appointing chairpersons, chief executive officers (CEOs), managing directors (MDs), and other senior executives. The briefing will also cover details of any irregular appointments and extensions.

Petrol price in Pakistan for July 25, 2026

The committee will further review the implementation status of recommendations made during its meeting held on June 30, 2026, at Pakistan State Oil (PSO) Headquarters in Karachi.

The committee’s move comes amid growing public concern over the financial burden of daily fuel price adjustments.

Meanwhile, the Oil and Gas Regulatory Authority (OGRA) on Friday increased petrol and high-speed diesel (HSD) prices for the fifth consecutive day.

According to the latest notification, the price of petrol has been increased by Rs3.66 per litre, taking the new rate to Rs335.18 per litre. The price of high-speed diesel has also been raised by Rs4.80 per litre, bringing the new rate to Rs383.46 per litre.

The latest revision marks the fifth consecutive increase in fuel prices, adding further pressure on consumers, transportation costs, and overall inflation.