Petroleum Division revises petrol pricing mechanism

ISLAMABAD: The Petroleum Division has revised the pricing mechanism for petrol amid the Iran-US tensions, directing oil refineries to follow a new formula in line with the Federal Cabinet’s decision. The Petroleum Division has written letters to refineries in this regard, following the directives of the federal cabinet. The cabinet on Friday approved that the import price of petrol may be determined on the basis of the actual import cost of the relevant Pakistan State Oil (PSO) cargo. Where the

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