The federal government has reduced the price of petrol by Rs3.13 per litre but increased the price of high-speed diesel (HSD) by Rs3.74 per litre amid continued volatility in global oil markets.
Under the revised petroleum prices, petrol will now be available at Rs345.87 per litre, compared with the previous rate of Rs349.00.
Meanwhile, the price of high-speed diesel has increased from Rs374.31 to Rs378.05 per litre.
The new prices will remain effective from September 5 to September 7, according to the government’s notification.
New Petrol and Diesel Prices Announced
The latest revision has resulted in different movements for the two major petroleum products.
| Fuel | Previous Price | New Price | Change |
|---|---|---|---|
| Petrol | Rs349.00 | Rs345.87 | Rs3.13 decrease |
| High-Speed Diesel | Rs374.31 | Rs378.05 | Rs3.74 increase |
The government’s decision comes as international oil prices remain unstable due to renewed tensions and disruptions in global energy markets.
The Oil and Gas Regulatory Authority (Ogra) has also started publishing daily petroleum prices on its website under the government’s new pricing mechanism.
Petroleum Minister Ali Pervaiz Malik said the daily prices are calculated using a seven-day average of international market prices, following practices used in international markets.
Pakistan Moves Toward Daily Fuel Price Reviews
The latest price adjustment is part of a broader shift in Pakistan’s petroleum pricing system.
Previously, petroleum prices were generally revised every two weeks. Following increased volatility in international oil markets, the government introduced a weekly review mechanism and has now moved toward daily price calculations.
The new framework allows Ogra to determine and announce daily ex-depot prices for petrol and high-speed diesel.
Under the system, Ogra can announce revised prices without obtaining separate approval from the prime minister or federal government for every adjustment.
However, petroleum prices announced on Friday will remain unchanged during Saturday and Sunday.
The regulator is also required to publish daily Platts reference prices. The new mechanism is intended to make petroleum pricing more transparent and allow international market movements to be reflected more quickly in domestic fuel prices.
The petroleum levy will remain subject to the limit approved by the federal cabinet. Any change in the levy rate will require approval from the Finance Division.
Middle East Tensions Continue to Affect Global Oil Markets
The latest fuel price changes come amid continued uncertainty in international energy markets.
Renewed hostilities in the Middle East have raised concerns about global oil supplies and shipping routes. The Strait of Hormuz remains particularly important because of its role in international energy transportation.
Pakistan, which relies heavily on imported petroleum products, remains vulnerable to major changes in global oil prices.
The government has therefore moved toward more frequent fuel price reviews to respond more quickly to international market fluctuations.
New Rules for Petroleum Imports
The government has also introduced changes to petroleum import arrangements for the fiscal year 2026-27.
Under the revised framework, imports of high-speed diesel will be routed exclusively through Pakistan State Oil (PSO).
Oil marketing companies will continue to be allowed to import petrol according to their respective market shares.
The government has also introduced penalties for companies that fail to meet their import or fuel-upliftment obligations.
Such companies may be barred from receiving fresh import permissions for up to nine months.
The framework also provides for daily pricing of kerosene oil and light diesel oil.
Authorities have been directed to implement the revised petroleum pricing mechanism immediately.
For consumers, the latest decision means petrol has become slightly cheaper, while diesel users will face a higher cost per litre. Further changes could follow as international oil prices continue to fluctuate under the new daily pricing system.
