The government has directed the Oil and Gas Regulatory Authority (Ogra) to publish daily Platts pricing data on its website, a move that will make the benchmark used for petroleum pricing accessible to the public. The decision follows a meeting of a prime ministerial committee chaired by Petroleum Minister Ali Pervaiz Malik. Main Developments The committee, formed to review Pakistan's petroleum pricing mechanism, examined international best practices and current market conditions. Minister Malik emphasized that the panel's work carries heightened importance due to the renewed closure of the Strait of Hormuz, which has created uncertainty in global energy markets. Read also: PSX Drops 2,300 Points as Middle East Tensions Fuel Risk-Off Sentiment Background Citing a KPMG study, the minister noted that petrol prices in Pakistan remain lower than those in Bangladesh, Sri Lanka, and Turkiye, while being broadly comparable to prices in India. Publishing Platts pricing data will allow consumers and analysts to directly verify the reference price used in official calculations. Why It Matters Greater transparency around the pricing benchmark could help build public trust in a sector often subject to criticism over opaque pricing mechanisms. It also comes at a time when geopolitical disruptions threaten to increase fuel costs, making independent verification of pricing inputs more critical for consumers and businesses alike. What's Next Ogra is expected to begin publishing the Platts data on its website in the coming days. The committee will continue its review of the broader pricing framework, with further recommendations likely as global market conditions evolve.