The Oil and Gas Regulatory Authority (OGRA) has reduced petrol and diesel prices for one day.
Under the revised rates, petrol has become cheaper by Rs7.06 per litre, while the diesel price has been reduced by Rs3.71 per litre.
Dealers Demand Forensic Audit of Refineries
The temporary price reduction comes amid demands from petroleum dealers for a forensic audit of oil refineries’ profits, which they believe could reveal opportunities to reduce petrol prices by Rs40 to Rs50 per litre.
The demand emerged during an emergency meeting of petroleum dealers in Karachi, where participants discussed refinery earnings, petroleum pricing and possible relief for consumers.
Dealers, including Malik Khuda Bakhsh and Anwar Kamal, called for a transparent forensic examination of the financial records of all refineries to determine their actual profits.
Dealers Claim Refineries Earned Excessive Profits
Malik Khuda Bakhsh claimed that refineries had earned profits equivalent to a full year’s earnings within just three months. He said a forensic audit would establish the facts and bring their financial performance into the public domain.
Anwar Kamal said consumers could receive relief of Rs40 to Rs50 per litre on petrol if the matter underwent a proper review.
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The dealers also said the petroleum minister’s statement had reinforced their concerns. They alleged that refineries had made excessive profits and demanded that consumers receive the relief they were entitled to.
Call for Comprehensive Financial Review
Petroleum dealers called for a comprehensive audit of refinery accounts to examine past earnings and ensure greater transparency in petroleum pricing.
They said the exercise would help identify potential savings and prevent consumers from facing additional financial burdens in the future.
