The federal government has once again increased petrol and diesel prices under its new daily pricing mechanism, pushing petrol to Rs327.12 and diesel to Rs375.04 per litre.
Islamabad, Pakistan – Web Desk: The federal government has once again increased the prices of petroleum products, raising petrol by Rs6.39 per litre and high-speed diesel (HSD) by Rs7.83 per litre for July 23, according to a notification issued by the Ministry of Petroleum.
Under the new rates, petrol will now cost Rs327.12 per litre, while HSD will be sold at Rs375.04 per litre. The notification specified that the revised prices will remain applicable for one day, in line with the government’s recently introduced daily pricing mechanism for petroleum products.
The Petroleum Division stated that the adjustment reflects recommendations issued by the Oil and Gas Regulatory Authority (OGRA), which factors in movements in international crude oil prices, exchange rate fluctuations, and import costs when calculating domestic fuel rates. The government has not issued any additional statement beyond the notification at this stage.
The latest hike comes just a day after petrol and diesel prices were also raised for July 22, when petrol increased by Rs4.93 to Rs320.73 per litre and HSD rose by Rs7.15 to Rs367.21 per litre. The back-to-back increases mark a continuation of the upward trend in fuel prices witnessed through July.
Pakistan shifted from a fortnightly fuel price review system to a daily pricing mechanism earlier this month, a move intended to let domestic rates respond more quickly to volatility in global oil markets. The change follows sustained pressure on international crude prices linked to ongoing tensions in the Middle East.
The pricing shift had earlier drawn criticism from the All Pakistan Petrol Pumps Association, which had threatened a nationwide shutdown of fuel stations over concerns about dealer margins and the operational challenges of daily revisions. The association agreed to postpone its planned strike for two weeks after Petroleum Minister Ali Pervaiz Malik assured dealers that their concerns, including the long-standing issue of margins, would be addressed.
With the daily pricing mechanism currently being implemented on a trial basis, further price adjustments are expected in the coming days depending on international market trends. Analysts say continued volatility in global crude prices could keep upward pressure on domestic fuel costs, with knock-on effects for transportation and food prices across the country.
