The Government of Pakistan has revised petroleum product prices, announcing a slight reduction in the price of petrol while increasing the rate of high-speed diesel for the upcoming period.
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According to the latest notification issued by the Ministry of Energy’s Petroleum Division, the price of petrol has been reduced by Rs0.35 per litre, bringing it down from Rs316.15 to Rs315.80 per litre.
The price of high-speed diesel (HSD) has been increased by Rs5.71 per litre, rising from Rs354.8 to Rs360.51 per litre.
The revised prices will come into effect from the announced date and will remain applicable for the next fortnight.
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The government’s decision comes amid fluctuations in global oil markets and changes in international petroleum prices.
Earlier to this, Petroleum Minister Ali Pervaiz Malik announced a daily fuel price review mechanism in response to rising global oil prices.
Speaking at a joint press conference with Information Minister Attaullah Tarar, Malik said the decision had been approved by Prime Minister Shehbaz Sharif and the federal cabinet.
Under the new policy, the Oil and Gas Regulatory Authority (OGRA) will determine petroleum prices every day, with the revised rates to be published on its official website.
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The minister said escalating tensions in the Middle East had created uncertainty in global energy markets, driving up international oil prices. Brent crude rose to around $84.75 per barrel, while US crude climbed to nearly $79.80 per barrel. He added that international diesel prices had surged from approximately $110 per barrel to $140 per barrel following the latest regional conflict.
Malik said the government would continue its targeted fuel subsidy programme but acknowledged that consumers were facing the impact of higher international fuel prices. He also noted that petroleum and carbon support levies on petrol and diesel remain below previous levels, while the government is moving toward deregulating the petroleum sector.
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Information Minister Attaullah Tarar said the latest increase in domestic fuel prices was directly linked to volatility in global oil markets and regional developments. He assured the public that Pakistan’s energy needs were being met through imported oil supplies and that there was no shortage of petroleum products.
Tarar added that oil marketing companies (OMCs) were operating under strict government oversight, warning that authorities would take action against hoarding or market manipulation.
The shift to daily fuel price reviews follows the government’s earlier move from fortnightly to weekly price adjustments after geopolitical tensions intensified. During the previous revision, petrol and high-speed diesel prices were increased by Rs13.18 and Rs13.80 per litre, bringing their prices to Rs310.71 and Rs323.30 per litre, respectively.
