Third Consecutive Daily Price Cut AnnouncedThe Oil and Gas Regulatory Authority (Ogra) has announced another reduction in fuel prices, cutting petrol by Rs3.19 per litre and high-speed diesel by Rs1.50 per litre effective August 7, marking the third consecutive daily decline. Under the new framework, the regulator is authorised to announce daily prices without requiring prior approval from the prime minister or the federal government. Background: Shift to Daily PricingAmid volatility in global oil rates on the back of renewed hostilities in the Middle East, the government switched to a daily fuel price review mechanism. Additional Import ConditionsThe document also outlines revised fuel import arrangements for fiscal year 2026-27. Imports of high-speed diesel will be routed exclusively through Pakistan State Oil (PSO) , while oil marketing companies will be allowed to import petrol in line with their market shares.