ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has revised petroleum prices for July 21, 2026, lowering the price of petrol by Re0.35 per litre while increasing the price of high-speed diesel (HSD) by Rs5.71 per litre.
Under the latest notification, petrol will now be sold at Rs315.80 per litre, whereas the new price of high-speed diesel has been fixed at Rs360.06 per litre. The revised rates are effective for July 21.
The Petroleum Division said the updated prices were calculated and notified by OGRA under the country’s revised fuel pricing policy.
The government has recently introduced a daily petroleum pricing mechanism in response to changing regional and international market conditions. Under the new framework, OGRA can announce revised petrol and diesel prices independently, without seeking prior approval from the prime minister or the federal government.
However, fuel prices announced before the weekend will remain unchanged on Saturdays and Sundays.
The regulator will determine daily prices by calculating the average international oil prices over the previous seven days, after which it will issue the updated rates on a daily basis.
Petroleum Minister Ali Pervaiz Malik said the new system is intended to make the fuel pricing process more transparent and easier for consumers to understand. He added that the government is gradually moving towards deregulation of the petroleum sector and dismissed concerns that the new pricing mechanism would place an additional financial burden on the public.
Addressing reports of overcharging at fuel stations, the minister said Prime Minister Shehbaz Sharif has ordered strict action against dealers charging above the officially notified rates, warning that violators will face legal action.
