Petrol and diesel prices rise in Pakistan amid oil market volatility

Under the new rates, petrol will now cost Rs346.16 per litre, while high-speed diesel will be priced at Rs372.03 per litre. The revised prices will take effect from September 3.

Ogra gets new pricing powers

The Oil and Gas Regulatory Authority (Ogra) has started publishing petroleum prices daily to make the pricing system more transparent. The new approach is also designed to pass changes in international oil prices to consumers more quickly.

Petroleum Minister Ali Pervaiz Malik said daily prices will be based on the average international market rate over the previous seven days. He said the method follows international practice.

Under the new system, Ogra will issue daily ex-depot prices for petrol and high-speed diesel. The regulator will not need prior approval from the prime minister or federal government before announcing the daily rates.

Weekend prices to remain unchanged

The new framework states that prices announced on Fridays will remain unchanged on Saturdays and Sundays. This means consumers will not see separate price changes during the weekend.

Ogra will also publish daily Platts reference prices under the new mechanism. The document says this practice began from July 1, 2026.

Middle East tensions add pressure

Global oil markets have remained unstable due to renewed tensions in the Middle East. The situation has also raised concerns about energy supplies through the Strait of Hormuz.

The government had earlier introduced a weekly fuel price review after the conflict began on February 28. Before that change, petroleum prices were generally revised every two weeks.

The latest framework places a limit on the petroleum levy approved by the federal cabinet. Any change to the levy rate will require approval from the Finance Division.

The new daily pricing system could make petrol and diesel prices respond faster to global oil movements. It may also make the pricing process more transparent for consumers.

However, frequent changes could make fuel costs harder for households and businesses to predict. Global oil prices and tensions in the Middle East will remain important factors in future fuel price changes.

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