Govt increases petrol and diesel prices again - Check new rates
The new rates will remain effective for the next 24 hours. Petrol has increased by Rs0.27 per litre, while high-speed diesel has gone up by Rs1.64 per litre. The revised prices will remain in effect for August 21, according to the government notification.
Daily fuel price system begins
The Oil and Gas Regulatory Authority has started publishing daily petroleum prices on its website. The system is designed to improve transparency and allow changes in international oil prices to reach consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily rates are calculated using the average international oil prices recorded over seven days. He said the method follows practices used in other countries.
Why fuel prices are changing daily
The government introduced the daily review system as global oil markets continue to face uncertainty. Renewed tensions in the Middle East have increased concerns about international energy supplies and prices.
Pakistan had previously reviewed petroleum prices every two weeks. The government later moved to weekly reviews after the conflict in the Middle East began on February 28.
Strait of Hormuz adds pressure
The conflict created concerns around the Strait of Hormuz, an important route for global energy supplies. Tensions increased further after a fragile June truce between Tehran and Washington collapsed.
The situation has raised fears of wider conflict and possible disruptions to oil flows. These international developments can affect fuel costs in countries such as Pakistan.
Ogra gets greater pricing role
An official document reported by Geo News provides details of the new federal cabinet-approved pricing mechanism. Under the framework, Ogra will issue daily ex-depot prices for petrol and high-speed diesel.
The regulator will calculate fuel prices using the average international market prices from the previous seven days. Ogra will be able to announce daily prices without seeking prior approval from the prime minister or federal government.
Weekend prices will remain unchanged
The new mechanism also includes a rule for weekends. Prices announced on Friday will remain unchanged on Saturday and Sunday.
Ogra will publish daily Platts reference prices under the new system. The document states that this publication began from July 1, 2026.
The latest increase is small for petrol but higher for diesel. The bigger change is the move toward daily fuel price reviews, which could make local prices respond more quickly to global oil movements.
Consumers may now see fuel prices change more frequently than before. This could mean faster relief when international prices fall, but it could also bring quicker increases when global oil markets become more expensive.
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