Govt increases petrol by Rs6.39, diesel Rs7.83 per litre

The federal government has increased the price of petrol by Rs6.39 per litre and high-speed diesel by Rs7.83 per litre under the newly introduced daily petroleum pricing mechanism. The change is aimed at reflecting international oil price movements more quickly in local fuel prices.

Under the new system, the Oil and Gas Regulatory Authority (Ogra) will update petroleum prices every day on its official website. The government says the move will improve transparency and ensure consumers see the immediate impact of changes in global oil markets.

Petroleum Minister Ali Pervaiz Malik said the daily pricing system is based on the average international oil prices recorded over the previous seven days. He added that this method follows international standards while reducing the impact of sudden market fluctuations.

The government decided to introduce daily fuel price reviews because of continued volatility in global oil markets. International crude oil prices have remained unstable due to renewed tensions in the Middle East and concerns over disruptions to global energy supplies.

Earlier, Pakistan had shifted from fortnightly to weekly fuel price revisions after the Middle East conflict intensified. Officials said the changing international situation made more frequent price adjustments necessary.

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According to the new mechanism approved by the federal cabinet, Ogra will issue daily ex-depot prices for petrol and high-speed diesel. The regulator will no longer need prior approval from the prime minister or the federal government before announcing daily fuel prices.

However, fuel prices announced on Fridays will remain unchanged on Saturdays and Sundays. The government believes this arrangement will provide stability over weekends while maintaining the new daily pricing system.

Officials say the revised mechanism is designed to make Pakistan’s fuel pricing more responsive to international oil market trends. They also believe it will improve transparency and reduce delays in passing global price changes to consumers.

The new daily pricing system means fuel prices could change more often than before. If international oil prices remain unstable, consumers may experience frequent increases or decreases in petrol and diesel prices.