Petrol Price in Pakistan Rises by Rs2.84 Today

Pakistan – (Staff Reporter/Web Desk) – The petrol price in Pakistan has gone up again, with the government announcing an increase of Rs2.84 per litre on Thursday. High-speed diesel also became more expensive, rising by Rs2.28 per litre, as international oil markets continue to swing.

From now, petrol will cost Rs349 per litre. High-speed diesel, widely used for transport and heavy machinery, will be priced at Rs374.31 per litre. Both new rates take effect from September 4.

This isn’t just a routine price update. Something bigger is changing behind the scenes. Ogra, the country’s oil regulator, has started publishing petroleum prices every single day on its official website.

The idea is simple. When oil prices move around the world, people in Pakistan should feel that change quickly, not weeks later. Petroleum Minister Ali Pervaiz Malik explained that these daily prices are worked out using a seven-day average of international rates, a method already used in many other countries.

Why the sudden shift? Global oil markets have been shaky for months. Tensions in the Middle East flared up again after a shaky truce between Iran and the US broke down earlier this year. That truce had followed a tense period back in February, when Israel and the US struck Iran, prompting Tehran to briefly close the Strait of Hormuz.

That narrow waterway matters a lot. Roughly one-fifth of the world’s energy supply passes through it. Any disruption there sends ripples through oil prices everywhere, including Pakistan.

Before this new system, fuel prices were reviewed just once every two weeks. That changed to a weekly review after the February conflict began. Now, with tensions rising again, officials decided a daily system made more sense.

Under the new rules, Ogra can announce fresh prices every day without waiting for approval from the prime minister or the federal cabinet. There’s one small exception though. Prices set on Friday will stay the same through the weekend, only changing again on Monday.

A government document reviewed by Geo News also revealed a few other changes. Starting July 1, 2026, Ogra will publish daily Platts reference prices, which are commonly used as a global benchmark for oil pricing.

There are limits too. The petroleum levy cannot go beyond what the federal cabinet has approved. Any change to that levy rate will still need sign-off from the Finance Division.

The way fuel gets imported is also shifting for the 2026-27 fiscal year. High-speed diesel imports will now go exclusively through Pakistan State Oil. Meanwhile, other oil marketing companies can still import petrol, based on their share of the market.

Companies that fail to meet their import targets won’t get new import permissions for up to nine months. That’s a pretty strict penalty, meant to keep supply chains reliable.

Kerosene oil and light diesel oil prices will also now be reviewed daily, following the same logic as petrol and diesel. Authorities have been told to roll out this new pricing system right away.

For everyday consumers, this means fuel prices may now change more often, sometimes even day to day, depending on how global oil markets behave. It’s a big shift from the slower, fortnightly updates people were used to.