The federal government has increased petrol and high-speed diesel (HSD) prices with immediate effect. The revised rates became effective from July 18 following an official notification by the Petroleum Division.
Petrol prices increased by Rs 5.44 per litre, raising the new rate to Rs 316.15 per litre. Meanwhile, the price of high-speed diesel climbed by Rs 31.05 per litre to Rs 354.35.
Daily Fuel Pricing Policy Takes Effect
Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be revised daily. The decision follows fluctuations in international oil markets caused by renewed hostilities involving Iran and the United States.
According to the minister, the federal cabinet assigned the Oil and Gas Regulatory Authority (OGRA) responsibility for determining daily fuel prices. Furthermore, OGRA will publish both the revised rates and the factors behind each price adjustment.
Previously, the government reviewed petroleum prices on a weekly basis after introducing the system in early March. It also announced subsidised fuel measures in April to provide targeted relief.
Higher Fuel Costs Expected to Affect Consumers
Petrol remains the primary fuel for private vehicles, motorcycles, rickshaws, and small transport. Therefore, any increase directly affects middle and lower-middle-income households.
Meanwhile, higher diesel prices are expected to increase transportation and logistics costs. Diesel is widely used by heavy vehicles, power plants, and large industrial generators across the country.
Petrol and high-speed diesel remain the government’s largest petroleum revenue sources. Monthly sales of both fuels range between 700,000 and 800,000 tonnes. In comparison, monthly kerosene demand stands at around 10,000 tonnes.
