ISLAMABAD: The government increased petrol and high-speed diesel prices on Friday, citing changes in international oil prices.
Petrol prices rose by Rs3.81 per litre, reaching Rs341.59, while high-speed diesel increased by Rs3.59 to Rs368.29 per litre.
The revised rates will remain effective from August 22 to August 24, according to the government’s notification.
Meanwhile, the Oil and Gas Regulatory Authority has started publishing daily petroleum prices to improve transparency.
The new mechanism allows international oil price changes to reach consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the government calculates daily prices using a seven-day average of international market rates.
Under the revised system, Ogra will issue daily ex-depot prices for petrol and high-speed diesel.
However, prices announced on Fridays will remain unchanged during Saturday and Sunday.
Ogra can announce daily prices without seeking prior approval from the prime minister or federal government.
The authority began publishing daily Platts reference prices from July 1, 2026, under the cabinet-approved framework.
The mechanism also limits the petroleum levy to the ceiling approved by the federal cabinet.
Moreover, any change in the levy rate requires approval from the Finance Division.
The government introduced the daily review system amid volatility in global oil markets and renewed tensions in the Middle East.
Previously, authorities reviewed petroleum prices fortnightly before shifting to weekly adjustments after the regional conflict began.
The latest increase will raise fuel costs for consumers as global energy markets remain uncertain.
