The federal government is actively considering shifting petroleum price reviews from the current weekly cycle to a daily basis, as renewed geopolitical tensions in the Middle East introduce unprecedented volatility in global energy markets . The proposal was a key agenda item during the fourth meeting of the Prime Minister’s committee on petroleum pricing, chaired by Federal Minister for Petroleum Ali Pervaiz Malik . The discussions come just days after the government raised petrol and diesel prices by nearly Rs14 per litre following fresh US strikes on Iran and the renewed disruption of the Strait of Hormuz, through which approximately one-fifth of the world’s seaborne oil trade passes.
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While no final decision has been made on implementing daily price adjustments, the committee reviewed an assessment from KPMG detailing the advantages and risks of both daily and twice-weekly review mechanisms . The firm also warned of further price shocks if the closure of the Strait of Hormuz persists, with analysts cautioning that prices could exceed $150 per barrel . Pakistan previously shifted from fortnightly to weekly price reviews during earlier Iran-US conflicts, while India currently revises its retail petrol and diesel prices on a daily basis .
