Pakistan, July 21 -- Pakistan's petroleum dealers have endorsed the government's plan to introduce daily petroleum price adjustments, saying the move would improve transparency and curb market distortions, while also pressing for an increase in dealers' margins.

The support came during a meeting on Monday between Petroleum Minister Ali Pervaiz Malik and a delegation of the Pakistan Petroleum Dealers Association (PPDA), led by Chief Adviser Malik Khuda Baksh.

According to a statement issued by the Petroleum Division, the minister briefed the delegation on the government's transition from weekly to daily petroleum price announcements. Under the new mechanism, prices will be determined using a seven-day rolling average of international oil...