ISLAMABAD: The federal government has reduced the prices of petroleum products, lowering petrol by Rs4.08 per litre and high-speed diesel (HSD) by Rs2.45 per litre under its newly introduced daily pricing mechanism.
According to a notification issued on Monday, the price of petrol has been cut from Rs336.03 to Rs331.95 per litre, while HSD will now cost Rs389.93 per litre, down from Rs392.38.
The government has also slashed the price of kerosene oil by Rs3.58 per litre, bringing it down from Rs305.22 to Rs301.64 per litre.
The revised rates take effect from August 4 and have been announced by the Oil and Gas Regulatory Authority (OGRA) under the recently adopted daily fuel pricing system.
Petroleum Minister Ali Pervaiz Malik said the revised mechanism links domestic fuel prices to the seven-day average of international oil prices, allowing consumers to benefit more quickly from global market movements while aligning Pakistan’s pricing model with international practices.
The government replaced the fortnightly review system with a daily pricing mechanism after heightened volatility in global oil markets caused by renewed tensions in the Middle East and disruptions to energy supplies through the Strait of Hormuz.
Under the new framework, OGRA is empowered to announce ex-depot prices for petrol and diesel each day without requiring prior approval from the prime minister or the federal cabinet. However, prices announced on Fridays will remain effective throughout Saturday and Sunday.
The policy also introduces new import rules for the 2026-27 fiscal year. High-speed diesel imports will be handled exclusively by Pakistan State Oil (PSO), while oil marketing companies will be permitted to import petrol according to their market share. Firms failing to meet import or supply obligations could face restrictions on fresh import permissions for up to nine months.
In addition, kerosene oil and light diesel oil prices will now also be reviewed daily as part of the government’s updated petroleum pricing framework.
