Petrol and high-speed diesel prices increase again in Pakistan
The latest revision has raised fuel costs for motorists across the country.
Under the new rates, petrol has increased by Rs1.63 per litre to Rs335.81. High-speed diesel has also gone up by Rs1.55 per litre and is now priced at Rs388.38 per litre.
The government has also increased the price of kerosene. Following an increase of Rs1.96 per litre, kerosene will now be available at Rs303.10 per litre.
The revised prices have been issued under the government’s new daily fuel pricing mechanism. The system is designed to reflect changes in international oil prices more quickly.
Under this policy, the Oil and Gas Regulatory Authority (OGRA) determines fuel prices using the average international market prices recorded over the previous seven days. The aim is to make fuel pricing more transparent and aligned with global market trends.
The government replaced the previous fortnightly review system with daily price revisions after volatility in global oil markets. Rising geopolitical tensions and uncertainty in international energy supplies have continued to affect petroleum prices.
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Under the approved framework, OGRA can announce daily ex-depot prices without seeking prior approval from the prime minister or the federal government. However, fuel prices announced on Fridays will remain unchanged on Saturdays and Sundays.
The policy also states that the petroleum levy cannot exceed the limit approved by the federal cabinet. Any change in the levy will require formal approval from the Ministry of Finance.
The daily pricing system means fuel prices can now change more frequently in line with international oil markets. While it improves transparency, consumers may experience more frequent increases or decreases in petrol and diesel prices.
