Petrol Price Jumps to Rs. 320.73/Litre Diesel Up Rs. 7.15 as Global Oil Tensions Rise
The federal government has announced another increase in fuel prices, raising the cost of both petrol and high-speed diesel (HSD) in response to continued fluctuations in the international oil market and growing tensions in the Persian Gulf region.
According to a notification issued by the Petroleum Division, the revised prices came into effect on July 22.
Under the latest revision, petrol has become Rs4.93 more expensive per litre, while high-speed diesel (HSD) has increased by Rs7.15 per litre.
Latest Petrol and Diesel Prices in Pakistan
| Fuel Type | Previous Price (Rs/Litre) | New Price (Rs/Litre) | Change |
|---|---|---|---|
| Petrol | 315.80 | 320.73 | +4.93 |
| High-Speed Diesel (HSD) | 360.06 | 367.21 | +7.15 |
The government said the adjustment reflects changing global crude oil prices, which have remained volatile due to renewed geopolitical tensions affecting energy markets.
Government Moves Towards Daily Fuel Pricing
Earlier, Petroleum Minister Ali Pervaiz Malik announced that Pakistan would shift from weekly fuel price revisions to a daily pricing mechanism. The move aims to ensure local fuel prices closely follow international market trends.
Under the new system, the Oil and Gas Regulatory Authority (OGRA) has been assigned the responsibility of determining daily fuel prices based on global oil market movements. The decision was approved by the federal cabinet and the prime minister.
Dealers Express Concerns
The announcement has been criticised by the All Pakistan Dealers Association, which opposes the daily pricing mechanism. The association has indicated that it is considering protest options against the new policy.
Impact on Consumers
Higher petrol prices are expected to increase transportation costs for millions of Pakistanis, especially those using motorcycles, cars, rickshaws, and other private vehicles. Middle- and lower-income households are likely to feel the greatest impact.
The increase in diesel prices could also lead to higher freight charges, as HSD is widely used by trucks, buses, agricultural machinery, power plants, and industrial generators. This may eventually affect the prices of essential goods across the country.
Fuel Prices Have Declined From Earlier Peaks
Despite the latest increase, fuel prices remain well below the record highs seen earlier this year.
- High-speed diesel previously reached Rs520.35 per litre on April 3 after climbing from Rs281 per litre following regional conflict.
- Petrol had earlier touched Rs458.41 per litre on April 3 after rising from Rs266 per litre in early March.
The government says future fuel prices will continue to depend on international oil market conditions and regional geopolitical developments, with adjustments expected whenever global trends require them.