Govt raises petrol by Rs5.44, diesel by Rs31.05 per litre

ISLAMABAD: The federal government has increased the price of petrol by Rs5.44 per litre and high-speed diesel by Rs31.05 per litre, according to a Petroleum Division notification issued on Friday.

Following the latest revision, petrol will now cost Rs316.15 per litre, while high-speed diesel has been fixed at Rs354.35 per litre. The Petroleum Division said the revised prices would take effect from July 18.

Earlier in the day, Petroleum Minister Ali Pervaiz Malik announced that petroleum prices would now be set on a daily basis in view of fluctuations in international markets after renewed hostilities between Iran and the United States. He said the federal cabinet and the prime minister had decided to assign the Oil and Gas Regulatory Authority the task of determining fuel prices each day in line with global market trends.

Speaking about the new mechanism, the minister said Ogra would make public both the benchmark rates used in pricing and the factors behind the final rates charged at filling stations.

not just publish the fuel rates on its website that are used to determine prices, but also publish the factors leading to the price that we see at each petrol pump

The government had been announcing weekly fuel price revisions since early March, while also introducing measures aimed at conserving fuel amid concerns over possible oil supply disruptions linked to the conflict in the Middle East. In April, the federal government also unveiled targeted relief steps to provide subsidised fuel.

Petrol is primarily consumed by private vehicles, motorcycles, rickshaws and small transport, meaning changes in its price directly affect middle- and lower-middle-income households. High-speed diesel, meanwhile, is widely used in heavy transport, power plants and large generators, extending its impact across the broader economy.

Petrol and high-speed diesel remain the main revenue-generating petroleum products, with monthly sales estimated at around 700,000 to 800,000 tonnes. By comparison, monthly demand for kerosene stands at about 10,000 tonnes.