ISLAMABAD: Petrol has become more than Rs25 per litre more expensive in just four days after the government increased its price by another Rs3.05 per litre.
According to a notification, the price of petrol has been increased to Rs370.80 per litre from the previous rate.
The price of high-speed diesel (HSD) has also been increased by Rs5.37 per litre.
Following the latest increase, the new price of high-speed diesel has been fixed at Rs398.04 per litre.
The latest increase comes after petrol prices were raised by more than Rs25 per litre over the past four days.
Pakistan started daily reporting on petrol and diesel prices in July 2026, ditching the decades-old system of reporting every month, then 15 days and then every week, due to oil prices taking a dive and surging after the resurfacing conflict between Iran and America early in the year which threatened the Strait of Hormuz.
The government had switched to a 15-day reporting mechanism last March, later changing to weekly pricing before moving to a 7-day reporting. The OGRA now works on a seven-day moving average on global oil price reference – and revises prices on a daily basis. So now consumers will not have to wait 15 days or even a week for the revised price to kick in.
They say the objective behind the price revision is to further promote transparency in the system and bring it more in sync with market forces. The petroleum minister Ali Pervaiz Malik and information minister Attaullah Tarar were of the opinion that daily reporting would lead to more transparent system and ensure the prices change on the back of the changes in global price movements. OGRA now does not require the prior approval of the federal government for every revision in prices and it publishes the daily reference international prices on its website.
It was being treated by government sources as the last step in a gradual process of decontrol, on the lines of daily exchange rate movements, in the hope of reducing state intervention and state risk.
The government admits that the move would bring pain to consumers, but claims that the measure would ultimately strengthen the state and avoid financial crisis.
