The federal government has announced a fresh revision in petroleum prices, increasing the price of petrol by Rs4.45 per litre while reducing the price of high-speed diesel (HSD) by Rs2 per litre.
According to a notification issued by the Petroleum Division, the revised prices came into effect on Thursday, August 6.
Under the latest revision, petrol will now be sold at Rs333.01 per litre, up from Rs328.56 per litre. Meanwhile, the price of high-speed diesel has been reduced to Rs383.86 per litre from Rs385.86 per litre.
Despite the adjustment in fuel prices, the government continues to collect Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel.
The latest revision comes as Pakistan gradually shifts to a daily fuel pricing mechanism in response to increased volatility in global oil markets. Petroleum Minister Ali Pervaiz Malik had earlier announced that petroleum prices would now be reviewed daily instead of weekly due to fluctuations caused by renewed tensions in the Middle East, particularly between Iran and the United States.
Fuel prices in Pakistan had surged sharply earlier this year following the escalation of the regional conflict. Diesel had reached a record high of Rs520.35 per litre on April 3 after climbing from Rs281 per litre in late February. Petrol also hit an all-time high of Rs458.41 per litre on the same date, rising from Rs266 per litre at the beginning of March.
Since then, international oil prices have eased, allowing the government to gradually lower fuel prices from their historic peaks. However, the authorities continue to monitor global market conditions closely amid ongoing geopolitical uncertainty.
The government had introduced weekly fuel price revisions in early March along with fuel conservation measures and later announced targeted subsidies to cushion the impact of higher oil prices on consumers. The move to daily pricing is aimed at reflecting international market trends more quickly in domestic fuel rates.