ISLAMABAD: A dispute has emerged between the petroleum industry and the government after oil marketing companies (OMCs) and refineries, alleged that the Oil and Gas Regulatory Authority (OGRA) made errors in calculating the latest reduction in petroleum prices.

According to industry representatives, OGRA did not accurately account for international fuel premiums and Platts benchmark averages during the latest fortnightly price review. They claim the alleged miscalculation resulted in a reduction of nearly Rs45 per litre in the price of high-speed diesel and around Rs11 per litre in petrol beyond what they consider justified.

The OMCs and refineries contend that the regulator failed to fully incorporate prevailing import premiums and benchmark prices used to determine the cost of imported petroleum products, imposing financial losses on the downstream oil sector.

The allegations have intensified tensions between the petroleum industry and the regulator, with industry stakeholders calling for a review of the pricing calculations.

OGRA had not publicly responded to the allegations at the time of filing, and the claims made by OMCs and refineries could not be independently verified.

Meanwhile, reports suggest consumers may receive another reduction in petroleum prices in the next fortnight. According to official sources, OGRA has forwarded a summary to the prime minister proposing a cut of between Rs20 and Rs50 per litre in line with declining international crude oil prices.

The proposed reduction follows last week’s sharp decrease in fuel prices, when the government lowered the prices of petroleum products by as much as Rs74 per litre amid continued weakness in global oil markets.

ISLAMABAD – Pakistan’s imports of heavy commercial vehicles reached a record high during the first 11 months of fiscal year 2025-26, reflecting stronger demand from the transport and logistics sectors amid improving economic activity and lower borrowing costs.

According to data released by the State Bank of Pakistan (SBP), imports of buses and trucks stood at $262.4 million during July-May FY26, compared with $57.8m in the corresponding period last year, marking an increase of more than 350 per cent.

The latest figures represent the highest value of heavy commercial vehicle imports recorded in the country’s history.

SBP data showed that most of the imported vehicles entered Pakistan as completely built units (CBUs), indicating that transport operators and corporate buyers preferred fully assembled buses and trucks to expand and modernise their fleets.

The increase comes as declining interest rates have reduced financing costs, encouraging transport and logistics companies to invest in new commercial vehicles.

The recovery in business activity, along with government support for the transport and logistics sector, has also contributed to higher demand, according to the data.

The rise in industrial output, construction activity, freight movement and inter-provincial trade has further increased the need for heavy-duty transport, prompting many operators to replace ageing fleets with newly imported vehicles.

KARACHI – On June 26, 2026, gold prices in Pakistan decreased, following the downward trend in international markets.

According to the Saraffa Association, the price of 24-karat gold per tola decreased to Rs 434,500 after a fall of Rs 1500, while the rate for 10 grams was Rs 372,520.

Note: It is pertinent to mention here that Upfront News in no way claims these rates to be accurate at all times, as the prices can continuously vary.