Pakistan raises petrol and diesel prices amid continued volatility in global oil markets.
Fuel Prices have increased in Pakistan, with the federal government raising petrol and high-speed diesel (HSD) rates under the new daily pricing mechanism.
Petrol now costs Rs334.54 per litre, up Rs3.34, while HSD has increased by Rs5.27 to Rs395.69 per litre. The revised rates will remain effective on August 19, according to an official notification.
The government also raised the price of kerosene oil by Rs4.22 per litre. The new rate stands at Rs300.85 per litre.
The Oil and Gas Regulatory Authority (Ogra) has started publishing petroleum prices daily to improve transparency and pass changes in international oil prices to consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said authorities calculate the daily rates using a seven-day average of international oil prices. He added that the method follows international pricing practices.
Oil Prices Crude Rises for Fourth Day as Hormuz Uncertainty Persists
The government introduced more frequent fuel price reviews amid sharp volatility in global oil markets.
The latest increase comes as tensions continue across the Middle East, raising concerns about disruptions to global energy supplies.
The government moved from fortnightly to weekly fuel price reviews after renewed regional conflict disrupted oil markets. The Strait of Hormuz remains a major concern because it carries a significant share of global energy shipments.
A fragile truce between Tehran and Washington also collapsed in June, increasing fears of a wider conflict and further disruption to energy supplies.
The latest adjustment means Pakistani consumers will face higher fuel costs as global oil market uncertainty continues.
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