Islamabad: The federal government has issued fresh prices of petroleum products for July 30 under the daily pricing system. In the new prices, petrol users have been given minor relief, while consumers using high-speed diesel will have to bear additional costs.
According to the official announcement, the price of petrol per litre has been reduced by 75 paise, after which the new price has been fixed at Rs 335.6 paise. On the other hand, the price of high-speed diesel has been increased by Rs 2.24 paise per litre, and now its new price will be Rs 390.62 paise.
The government has clarified that these rates will be effective only for July 30. Under the current policy, the prices of petroleum products are being reviewed daily so that the impact of changes in oil prices in the global market can be transferred to the local market in a timely manner.
According to government officials, under the new procedure, the Oil and Gas Regulatory Authority (OGRA) will determine prices daily, and no separate approval of the Prime Minister or the federal cabinet is required for this purpose. However, the last-issued prices during Saturday and Sunday will remain in force.
This new system has been implemented at a time when prices are constantly fluctuating in the global energy market. The government’s position is that daily pricing will immediately reflect the international market situation in local prices, which will enable a timely response to both price increases and decreases.
It is worth noting that earlier, the prices of both petrol and high-speed diesel were increased for July 29. Under this system of continuous review, consumers will also be informed of the new prices as per the government notification issued daily.
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