Pakistan to revise oil prices daily amid renewed West Asia tensions
Pakistan is shifting to daily fuel price adjustments to manage volatility caused by the ongoing conflict in West Asia. The government aims to increase transparency in pricing while also planning to resume energy extraction partnerships with Turkish firms.
Why it matters
Frequent price adjustments reflect the economic strain and inflationary pressures faced by developing nations due to regional geopolitical instability.
Pakistan has announced that petroleum prices in the country will be adjusted daily to tackle the uneven fluctuation in oil prices triggered by the ongoing conflict in West Asia. The government had started fixing prices on a weekly basis since the start of the U.S.-Iran war in late February.
Petroleum Minister Ali Pervaiz Malik, along with Information Minister Attaullah Tararon, announced on Friday (July 17, 2026) at a press conference. Mr. Malik said that the Cabinet decided to assign the task of fixing prices to the Oil and Gas Regulatory Authority (OGRA) — the country's oil and gas watchdog — which will decide the fuel prices on a daily basis.
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