The government has started taking measures to reduce petroleum prices, allowing oil refineries to keep petrol’s ex-refinery price at its March 7, 2026 level for the next 30 days.

Under the proposed arrangement, refineries will be required to return any amount collected above the specified price level to the government.

The government plans to use the recovered amount to reduce the petroleum levy, potentially creating room for a cut in petrol prices for consumers.

The mechanism is intended to provide relief at the pump without requiring refineries to permanently absorb the difference in prices.

The arrangement will remain in place for 30 days. Further details, including the amount expected to be recovered and the potential reduction in the petroleum levy, have not yet been provided.