The federal government has once again increased the prices of petroleum products, pushing petrol and high-speed diesel to new record levels under Pakistan’s recently introduced daily fuel pricing mechanism.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs. 4.40 per litre, taking the new rate to Rs. 331.52 per litre, effective from July 24.
The price of high-speed diesel (HSD) has also been raised by Rs. 3.62 per litre, bringing the new retail price to Rs. 378.66 per litre.
The latest revision comes just a day after another major increase, when the government raised petrol prices by Rs. 6.39 per litre and diesel prices by Rs. 7.83 per litre, adding further pressure on consumers and businesses already grappling with rising transportation and logistics costs.
The back-to-back hikes follow Pakistan’s shift to a daily petroleum pricing mechanism, under which the Oil and Gas Regulatory Authority (OGRA) adjusts fuel prices based on international oil market trends and exchange rate movements. The government says the new system is intended to improve transparency by allowing domestic fuel prices to reflect global fluctuations more quickly.
Petrol is primarily used by private vehicles, motorcycles, and small transport operators, while high-speed diesel powers heavy transport, buses, trains, and agricultural machinery. As a result, sustained increases in diesel prices often have a broader impact on inflation by raising the cost of transporting goods and food across the country.
The latest increase is expected to further fuel inflationary pressures and increase commuting expenses for millions of Pakistanis as global energy markets remain volatile.
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