{
  "id": 17625525,
  "title": "Govt Adopts New Formula to Reduce Petrol Prices",
  "url": "https://urgent.news/2026/11/01/govt-adopts-new-formula-to-reduce-petrol-prices",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-01T14:54:05.000Z",
  "source": {
    "name": "ProPakistani",
    "slug": "propakistani",
    "url": "https://propakistani.pk/2026/11/01/govt-moves-to-lower-petrol-prices-refinery-price-cap/"
  },
  "original_language": "en",
  "account": "The Pakistani government is implementing a new method to lower petrol prices by empowering oil refineries to set the ex-refinery price of Motor Spirit (MS) petrol at the rate from March 7, 2026, for the following 30 days, according to sources. Any surplus earned by refineries above this level will be returned to the government to offset the petroleum levy.\n\nUnder this scheme, as outlined in a Petroleum Division letter from October 30, premiums, incidental charges, and customs duty in the ex-refinery petrol price will remain constant at their March 7, 2026 levels for a period of 30 days. The import price will be determined based on Pakistan State Oil’s actual import cost. Refineries must remit the difference between the two prices into the petroleum levy account and furnish daily petrol sales data and payment receipts to the Petroleum Division and the Office of the Gas Regulatory Authority (OGRA) for verification purposes.\n\nThis mechanism is projected to cost refineries approximately Rs. 49 per litre, with the financial burden estimated at Rs. 10–15 billion per month by Topline Securities. The funds collected from refineries will provide the government with the flexibility to reduce the petroleum levy, subsequently lowering the prices at the pump. However, the extent of the relief for consumers will rely on the amount recovered and the government's subsequent fortnightly decision on price adjustments. This arrangement will be reviewed and potentially extended after the initial 30-day period, with further updates to be issued as they become available.",
  "summary": "The government has started taking steps to bring down fuel prices by allowing oil refineries to fix the ex-refinery price … Read More The post Govt Adopts New Formula to Reduce Petrol Prices appeared first on ProPakistani .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}