The daily pricing method has resulted in more frequent revisions in petroleum rates. In the current revision of fuel prices, the federal government has decreased the petrol price by 66 paisa per liter but increased the rate of high-speed diesel (HSD) by 52 paisa.

Petrol would be available for Rs398.30 a liter after the amendment as compared to Rs398.96, while high-speed diesel will be sold at Rs396.24 a liter against Rs395.72.

The revised tariffs will be effective from October 10 to 12, 2026, according to Petroleum Division announcement. The revision comes amid instability in international oil markets and a move toward more frequent evaluations of domestic fuel pricing.

Price reviews daily

The government has initiated a daily review of petroleum pricing to respond more rapidly to the changes in international oil prices.

Under the new framework, OGRA will fix petrol and high-speed diesel prices on daily basis on the basis of the average rates in the international market during the prior seven days on an ex-depot basis.

Petroleum Minister Ali Pervaiz Malik said the daily estimates will be based on a seven-day average of international pricing, in line with international traditions.

OGRA has also started releasing daily petroleum prices on its website to provide transparency and allow for changes in foreign markets to be reflected in domestic rates faster.

The regulator can announce revised rates without having to have the previous consent of the prime minister or the federal government for each and every change. But the pricing announced Friday will not change over the weekend.

The switch to daily pricing comes as global oil markets swing with increasing tensions in the Middle East and worries over energy supplies.

After the outbreak of hostilities between Iran, Israel and the United States on 28 February, the government moved to weekly gasoline price reviews. In the past, petroleum products were amended on a fortnightly basis.

Tensions in the Strait of Hormuz have created uncertainty in energy markets. The key canal handled approximately a fifth of the world’s oil and other energy supplies before the conflict and any disruption is a huge issue for worldwide markets.

As per the new structure, OGRA will be bound to post Platts daily reference prices. The procedure also limits the scope for modifications in petroleum levies: the ceiling on levies is determined by the federal cabinet and the levy’s rate requires the permission of the Finance Division.

The Pakistan Stock Exchange (PSX) concluded the week in the red as the benchmark KSE-100 Index dropped 1,066 points to close at 166,789.

The index’s range of movement in the week was 3,834 points, indicating volatility in the market.

The index’s weekly high was at 169,486 points and its low at 165,651 points.

Value of trades touched Rs90 billion during the week when 2.13 billion shares changed hands.

In the meantime, the entire capitalization of the market fell by Rs156 billion to Rs18.569 trillion.

The Pakistan International Airlines (PIA) has entered into a leasing contract with Norway’s Norse Atlantic Airways for two Boeing 787-9 Dreamliner aircraft as part of its growth strategy.

The accord enables Norse to preserve a crucial ACMI (aircraft, crew, maintenance, and insurance) contract following India’s largest airline, IndiGo, announcing in July its intention to terminate its wet-lease agreement with the Norwegian entity.

Norse, confronted with escalating jet fuel expenses, has been diminishing its involvement in budget transatlantic services while amplifying its emphasis on ACMI, wherein it rents aircraft and workers to other carriers for compensation.

The planes are anticipated to integrate with PIA in November and facilitate long-distance flights between Pakistan and the United Kingdom, hence augmenting capacity on these routes, as reported by The News.

The collaboration aims to facilitate PIA’s route development while allowing Norse to reallocate aircraft returning to its inventory.

PIA Chief Executive Officer Air Vise Marshal Amir Hayat stated during the signing ceremony that the UK was a significant market for the airline and that the deal will expand capacity and provide travelers with other options.We are delighted to collaborate with Norse Atlantic as we enhance our global network and address the significant demand for direct travel between the two nations,” he stated.

Hayat stated that the planes would be the first Dreamliners to be sold in Pakistan and expressed optimism that they would offer travelers the first-rate services they had anticipated from PIA.

Norse CEO Eivind Roald stated that the airline has been endeavoring to reallocate capacity via new ACMI prospects and is currently executing that plan.

He stated that the accord will facilitate PIA’s long-distance growth and enhance connection between the UK and Pakistan by providing the substantial Pakistani populace in the UK with increased travel alternatives.

Roald stated that the accord might signify the commencement of a strategic alliance between the two airlines.

The advancement follows the trade ministry’s announcement that the government is contemplating possible aircraft leasing and fleet modernization agreements with Airbus and Rolls-Royce.

The recommendations were deliberated in a conference between Commerce Minister Jam Kamal Khan and British High Commissioner Jane Marriott in Islamabad, as reported by The News, referencing the commerce ministry.

The parties deliberated on potential agreements for Airbus planes and Rolls-Royce engines, encompassing lease alternatives to address PIA’s urgent needs and strategies for fleet modernization, as stated by the ministry.