Pakistan Raises Petrol and Diesel Prices Under New Daily Pricing Mechanism

Islamabad: The federal government has announced an increase in the prices of petroleum products under its newly approved daily fuel pricing system.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs4.93 per litre, taking the new price to Rs320.73 per litre.

The price of high-speed diesel has also been raised by Rs7.15 per litre, with the new rate set at Rs367.21 per litre.

The revised prices will take effect from midnight and remain applicable for one day.

The announcement follows the federal cabinet’s approval of a new mechanism for the daily determination of petroleum prices. Under the new system, the Oil and Gas Regulatory Authority (OGRA) will announce the ex-depot prices of petrol and diesel on a daily basis.

Fuel prices will now be calculated based on the average international market prices over the previous seven business days, aligning domestic rates more closely with global oil market trends.

Under the revised policy, OGRA will be authorized to announce daily fuel prices without requiring prior approval from the Prime Minister or the federal government.