Refineries oppose revised petrol pricing formula as dealers demand audit of profits

Pakistan’s refineries have asked the federal government to reverse a petrol-pricing change introduced on October 31, 2026, saying it could leave them with a Rs49.02-per-litre shortfall. In a joint letter, Attock Refinery, National Refinery, Cnergyico and Pakistan Refinery sought restoration of the earlier formula and consultations with officials.

The companies say the revised method uses Pakistan State Oil’s actual or latest cargo costs for imported petrol, while keeping certain components for local refineries at their March 7, 2026 levels. They argue the change does not allow recovery of higher costs and could threaten domestic production and upgrade projects. Separately, the Pakistan Petroleum Dealers Association called for a forensic audit, saying it could establish whether prices could fall by Rs40 to Rs50 per litre, rather than the proposed Rs15.