The federal government has increased the prices of petroleum products after introducing a daily fuel pricing mechanism, replacing the previous weekly review system.
According to a notification issued by the Petroleum Division, the revised prices took effect from midnight on Friday and will remain in force until Monday, July 20.
Under the new rates, petrol has become Rs5.44 per litre more expensive, taking its price to Rs316.15 per litre. Meanwhile, high-speed diesel (HSD) has seen a much larger increase of Rs31.05 per litre, bringing its new price to Rs354.35 per litre.
The government introduced the daily pricing mechanism to improve transparency and enable quicker adjustments in response to rapid fluctuations in international crude oil prices.
Petroleum Minister Ali Pervaiz Malik said the decision was necessary because global energy markets have become increasingly volatile amid rising geopolitical tensions. He explained that the previous pricing system was no longer suitable, as international oil prices can change significantly within a short period.
The minister acknowledged that the latest increase would place additional financial pressure on consumers. However, he said the government was compelled to make difficult decisions to protect the country’s economy and reduce the impact of sudden changes in global oil prices.
Pakistan had earlier shifted from a fortnightly to a weekly petroleum pricing mechanism due to increased market volatility. The latest policy replaces the weekly review with a daily adjustment system, allowing authorities to revise fuel prices whenever required based on international market conditions.
The latest increase comes after a sharp rise in global crude oil prices triggered by escalating tensions between the United States and Iran, with concerns over possible disruptions to global oil supplies continuing to drive market uncertainty.
