Pakistan Increases Petrol and Diesel Prices; New Oil and Gas Discovery Announced
Islamabad: The federal government has announced an increase in the prices of petroleum products, with the revised rates taking effect from midnight.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs. 1.09 per litre, raising the new price to Rs. 336.15 per litre. The price of high-speed diesel has been increased by Rs. 2.42 per litre, bringing the new rate to Rs. 393.04 per litre.
Meanwhile, Federal Minister for Petroleum Ali Pervaiz Malik said the government could reintroduce a targeted subsidy mechanism if international oil prices do not decline. Speaking to the media, he said that if the regional situation moves toward a lasting ceasefire, petroleum prices could fall, allowing the public to benefit from lower fuel costs.
The minister added that renewed concerns over the possible closure of the Strait of Hormuz had created uncertainty in global energy markets, making the government’s energy management efforts even more important.
He said Pakistan’s petrol prices remain lower than those in Bangladesh, Sri Lanka, and Türkiye, and are approximately at the same level as those in India. He also revealed that amendments to the refinery policy have been proposed to reduce the country’s dependence on imported diesel and increase domestic production, which would further strengthen Pakistan’s energy security.
Separately, Pakistan Petroleum Limited (PPL) announced the discovery of new oil and gas reserves in the Shah Bandar Block located in Sindh’s Sujawal district.
In a notification submitted to the Pakistan Stock Exchange, the company said the discovery at the Rahi X-1 well marks the fourth consecutive hydrocarbon discovery from the site. Drilling at the well began on June 17, 2026, and reached a depth of 2,612 metres.
According to PPL, the well is currently producing approximately 0.493 million standard cubic feet of gas per day along with 12 barrels of light oil per day, strengthening the country’s domestic energy resource base.
