ISLAMABAD – Petrol prices have been slashed by just Rs0.35 per litre, taking the new retail price to Rs315.80 per litre while high-speed diesel has jumped by Rs. 5.71 per litre, pushing the new rate to Rs. 360.06 per litre.
While the marginal reduction in petrol is unlikely to ease household expenses, the steep diesel hike is expected to ripple across Pakistan’s economy. Since diesel fuels the country’s transport network, agriculture, heavy machinery, and freight sector, the increase could translate into higher logistics costs and eventually push up the prices of essential goods.
The latest prices have been notified by OGRA under a newly introduced pricing mechanism that marks one of the biggest changes to Pakistan’s petroleum policy in years.
Pakistani government officially scrapped its long-standing fortnightly fuel pricing system, ushering in a major overhaul that will see petroleum prices revised every working day. The move comes alongside a fresh price notification from the Oil and Gas Regulatory Authority (OGRA), which offers motorists only token relief on petrol while delivering a sharp increase in diesel prices.
According to a notification issued by the Ministry of Energy’s Petroleum Division, local petroleum prices will now be linked directly to international crude oil movements, Platts Arab Gulf Assessments, and the actual cost of importing fuel into Pakistan.
Under the new policy, revised prices for petrol, high-speed diesel, and other petroleum products will be announced every Monday through Friday, while rates will remain unchanged over the weekend to maintain market stability.
Despite the automated pricing model, the federal government will continue to control major fiscal components, including the Petroleum Development Levy (PDL), customs duty, climate levy, and Oil Marketing Companies’ (OMCs) margins. Any changes to these charges will still require government approval, with OGRA having no authority to modify them independently.
The government has launched the daily pricing mechanism on a nine-month trial, during which it will assess its impact on market stability, fuel supplies, consumer prices, and overall efficiency before deciding whether to adopt the system permanently.
How Pakistan’s New Petrol Price Formula will work – EXPLAINED
