Pakistan petrol price rises, diesel rate falls in Pakistan
New petrol and diesel prices announced
The federal government has increased the petrol price by Rs1.19 per litre and reduced the high-speed diesel (HSD) price by Rs1.91. After the latest change, petrol will cost Rs394.83 per litre, while HSD will be available at Rs395.85 per litre.
The Petroleum Division issued a notification announcing the revised fuel prices. The new rates will remain effective for October 7.
Daily fuel price reviews introduced
The Oil and Gas Regulatory Authority (Ogra) has started publishing daily petroleum prices on its website. The move is aimed at improving transparency and allowing changes in global oil prices to reach consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily prices are based on a seven-day average of international market rates. He said the method is in line with international practice.
Global oil volatility affects fuel rates
The government decided to move towards daily fuel price reviews amid volatility in international oil prices. Renewed tensions in the Middle East have added uncertainty to global energy markets and fuel costs.
The government had earlier introduced a weekly fuel price review system after the Middle East conflict began on February 28. The conflict started after Israel and the United States attacked Iran, prompting Tehran to shut the Strait of Hormuz, a major route for global energy supplies.
Strait tensions keep energy markets under pressure
Tensions have increased since a fragile June truce between Tehran and Washington collapsed. The renewed tensions have raised fears of a wider conflict and disrupted energy flows through the Strait of Hormuz.
Pakistan previously revised petroleum prices every two weeks. The shift to weekly and now daily reviews reflects the government’s response to rapid changes in international oil markets.
The latest change gives mixed relief to fuel consumers, with petrol becoming more expensive while diesel gets cheaper. Daily reviews could allow local prices to respond faster to major movements in global oil markets.
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