Business

The Oil and Gas Regulatory Authority (OGRA) has increased the official price of liquefied petroleum gas (LPG) for August 2026, making the fuel more expensive for households across Pakistan from August 1. According to an OGRA notification, the LPG consumer price has been raised by Rs12.89 per kilogram (approximately Rs13), taking the official rate from Rs241.43 to Rs254.32 per kg. As a result, the price of a standard 11.8kg domestic LPG cylinder has increased by Rs152.01 to Rs3,000.92, compared with Rs2,848.91 in July. OGRA said the revised prices came into effect on August 1 and will remain applicable throughout the month. The regulator also increased the producer price of LPG to Rs213,015.35 per tonne from Rs200,132.84 per tonne, reflecting the same Rs152.01 increase for an 11.8kg c...

The federal government has announced a marginal reduction in petroleum prices for the next three days, lowering the rates of both petrol and high-speed diesel (HSD) effective from August 1 to August 3, 2026. According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs. 0.12 per litre, bringing the new rate to Rs. 336.03 per litre. Meanwhile, the price of high-speed diesel (HSD) has been cut by Rs. 0.66 per litre, setting the new price at Rs. 392.38 per litre. The revised rates will remain in effect until August 3. The latest adjustment comes just a day after the government had increased fuel prices, when diesel was raised by Rs. 2.42 per litre and petrol by Rs. 1.09 per litre in line with fluctuations in international oil markets. Pakist...

Global oil prices retreated on Friday after reports that China is working to revive peace talks between the United States and Iran, easing immediate concerns over supply disruptions. However, crude benchmarks still recorded their strongest weekly gains in months as geopolitical tensions in the Middle East kept markets on edge. Brent crude settled at $96.78 per barrel, down 3.88%, after closing above $100 in the previous session for the first time since May. U.S. benchmark West Texas Intermediate (WTI) fell 3.12% to $89.31 per barrel. Despite Friday's decline, Brent gained nearly 10% for the week, while WTI advanced more than 8%. Oil prices had surged earlier this week as hostilities between the U.S. and Iran intensified, disrupting tanker traffic through the Strait of Hormuz and rais...

The federal government has decided to keep petrol and high-speed diesel (HSD) prices unchanged for July 26 and 27, as international fuel benchmark Platts does not publish oil price assessments over the weekend. According to a notification issued by the Petroleum Division on Saturday, the revised fuel prices announced on July 25 will remain effective until Monday. As a result, petrol will continue to retail at Rs335.18 per litre, while high-speed diesel (HSD) will remain at Rs383.46 per litre. The decision comes just a day after the government increased petrol prices by Rs3.66 per litre and HSD by Rs4.80 per litre under Pakistan's newly introduced daily fuel pricing mechanism. The government currently collects around Rs110 per litre in taxes and duties on petrol and Rs96 per li...

Following Toyota, Honda, and Suzuki, Chery has also increased the prices of all its plug-in hybrid (PHEV) models in Pakistan after the government's recent increase in sales tax on hybrid vehicles. Instead of passing on the full impact of the tax increase immediately, the company has introduced limited-time promotional prices that partially absorb the additional cost. The discounted prices will remain valid until July 31 or while stocks last, after which customers will have to pay the full revised prices. The Chery Tiggo 7 PHEV, previously priced at Rs. 9.499 million, now carries a promotional price of Rs. 9.999 million. Once the promotional offer ends, its official retail price will rise to Rs. 10.949 million. The Chery Tiggo 8 PHEV has increased from Rs. 11.299 million to a promo...

Global oil prices extended their rally after fresh US military strikes on Iran and renewed attacks on oil tankers in the Red Sea heightened fears of supply disruptions across the Middle East. Brent crude rose by $1.93, or around 2%, to reach $96 per barrel, its highest level since June 8. Meanwhile, US West Texas Intermediate (WTI) crude gained $1.44, or 1.7%, to trade at $88.27 per barrel. The latest gains follow a strong performance in the previous trading session, when Brent crude settled more than $3 higher at $94.07 per barrel, while WTI also climbed nearly 3%, reflecting growing concerns among investors over escalating geopolitical tensions. Oil markets have been driven higher after the United States launched a new wave of strikes on Iranian targets, while Yemen's Houthi reb...

Despite the arrival of imported tomatoes from Iran, consumers across Karachi continue to face soaring prices, with retail rates climbing to as high as Rs. 500 per kilogram instead of easing as expected. According to market reports, both Iranian and Quetta-grown tomatoes are being sold for Rs. 450 to Rs. 500 per kg, while a quarter kilogram (250 grams) costs between Rs. 110 and Rs. 125. Some vendors are offering smaller-sized and unripe tomatoes at around Rs. 400 per kg, but shoppers say even these remain too expensive for everyday use. Traders say the recent imports from Iran have failed to stabilize prices because the volume entering the country is far below market demand. Industry estimates suggest that only around 10 containers of Iranian tomatoes are arriving daily, an amount ins...

Gold prices in Pakistan dropped sharply on Thursday, with the price of 24-karat gold falling by Rs. 1,800 per tola, following a decline in international bullion markets. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of one tola of 24-karat gold has decreased to Rs. 432,036 after the latest reduction. Similarly, the price of 10 grams of 24-karat gold fell by Rs. 1,543, bringing it down to Rs. 370,401. The decline comes as international gold prices slipped by $18 per ounce to $4,096. Analysts attribute the drop to profit-taking by investors and improving sentiment in global financial markets, which reduced demand for safe-haven assets. Expectations surrounding global interest rate policies and the strength of the US dollar also continue to i...

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 tr...

Gold prices continued their upward march on Wednesday, with both international and local bullion markets witnessing another sharp increase, pushing the price of the precious metal to fresh record highs in Pakistan. According to market data, the international price of gold climbed by $46 per ounce, reaching $4,114 per ounce. The global rally was immediately reflected in Pakistan's local bullion market. The price of 24-karat gold increased by Rs4,600 per tola, taking it to Rs433,836. Meanwhile, the price of 10 grams of 24-karat gold rose by Rs3,944 to Rs371,944. Silver also recorded a modest gain. The price of one tola of silver increased by Rs7, settling at Rs6,403. The latest increase comes just a day after another major jump in bullion prices. On Tuesday, the price of one tola...