On Friday, the government raised petrol prices by Rs5.44 and diesel by Rs31.05 per litre, effective immediately for three days through July 20, to reflect higher import costs and global price pressures amid renewed regional tensions.
Consequently, petrol now costs Rs316.15 per litre, while high‑speed diesel (HSD) is priced at Rs354.35 per litre.
The Petroleum Division announced in a press release that the new rates will take effect on Saturday, July 18.
Diesel prices have fallen from the April 3 peak of Rs520.35, after having risen from Rs281 per litre following the outbreak of the US‑Iran conflict on February 28.
Petrol prices peaked at Rs458.41 on April 3, after climbing from Rs266 in the first week of March.
Earlier today, Petroleum Minister Ali Pervaiz Malik said fuel prices will now be revised daily in response to international market fluctuations and renewed Iran‑US hostilities.
Since early March, the government has been issuing weekly fuel price adjustments, accompanied by conservation measures to mitigate potential oil supply disruptions from the Middle East conflict. In April, it also introduced targeted relief measures offering subsidised fuel.
The minister said the cabinet and prime minister have tasked the Oil and Gas Regulatory Authority (OGRA) with setting daily fuel prices based on international market trends.
He added that OGRA will not only publish the fuel rates on its website but also disclose the underlying factors influencing the price at each pump.
The government applies a customs duty of roughly Rs105 per litre to both products, along with a petroleum levy, climate support levy, and inland freight equalisation margin.
The All Pakistan Dealers Association rejected the daily pricing decision, indicating it may propose a protest plan next week.
Petrol is primarily consumed by private vehicles, small cars, rickshaws, and two‑wheelers, and price changes have a notable impact on middle‑ and lower‑income households.
Similarly, diesel price adjustments affect the broader public, given its extensive use in heavy transport, power generation plants, and large generators.
Petrol and high‑speed diesel constitute the main revenue sources, with monthly sales ranging from 700,000 to 800,000 tonnes, far exceeding the 10,000‑tonne monthly demand for kerosene.
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