Petrol Price in Pakistan has been reduced by Rs0.35 per litre, while the government increased the price of high-speed diesel (HSD) by Rs5.71 per litre to reflect fluctuations in international oil markets following renewed tensions in the Persian Gulf.

Under the revised rates, petrol now costs Rs315.80 per litre, while high-speed diesel has risen to Rs360.06 per litre. The Petroleum Division announced that the new prices will take effect from July 21.

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The government said the latest adjustment reflects changes in global petroleum prices after renewed regional hostilities affected international energy markets.

Diesel Price Rises as Global Oil Markets Fluctuate

High-speed diesel previously reached a record Rs520.35 per litre on April 3 after climbing from Rs281 per litre following the outbreak of the US-Iran conflict on February 28.

Petrol also hit a peak of Rs458.41 per litre on April 3, after increasing from Rs266 per litre in early March.

The latest revision follows continued volatility in global crude oil prices, driven by uncertainty surrounding the conflict in the Middle East.

Government Introduces Daily Fuel Pricing

Earlier, Petroleum Minister Ali Pervaiz Malik announced that Pakistan would adopt a daily fuel pricing mechanism instead of weekly revisions.

He said the federal cabinet and Prime Minister Shehbaz Sharif had authorised the Oil and Gas Regulatory Authority (OGRA) to determine fuel prices each day in line with international market trends.

The government had switched to weekly fuel price reviews in early March while introducing fuel conservation measures and targeted relief programmes to address supply concerns linked to the regional conflict.

Dealers Oppose New Pricing System

The All Pakistan Petroleum Dealers Association rejected the decision to introduce daily fuel prices and said it would consider a protest strategy during the week.

Petrol remains the primary fuel for private vehicles, motorcycles, rickshaws and small transport, making its price particularly important for middle- and lower-income households.

High-speed diesel is widely used by heavy transport vehicles, agricultural machinery, power plants and industrial generators. Any increase in diesel prices can raise transportation and production costs, affecting inflation across the economy.

Petrol and diesel remain the country’s largest-selling petroleum products, with combined monthly sales ranging between 700,000 and 800,000 tonnes, significantly higher than demand for other fuels such as kerosene.