Pakistan Raises Petrol and Diesel Prices Under New Daily Pricing Mechanism

ISLAMABAD: The federal government has announced an increase in petroleum prices, with the new rates taking effect after midnight for one day under the country’s newly introduced daily fuel pricing system.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs4.40 per litre, bringing the new rate to Rs331.52 per litre.

The price of high-speed diesel has also been raised by Rs3.62 per litre, setting the new price at Rs378.66 per litre.

The revised prices will remain effective for one day and are part of the government’s recently approved daily fuel pricing mechanism.

Under the new system, the federal cabinet has authorized the Oil and Gas Regulatory Authority (OGRA) to determine and announce the ex-depot prices of petrol and diesel on a daily basis. The prices will be calculated using the average international oil prices over the previous seven business days.

The new framework also removes the requirement for prior approval from the prime minister or the federal government before fuel prices are announced, allowing OGRA to issue daily price notifications independently based on global market trends.