Petrol Price Increase Rs4.45: Ogra Announces New Daily Fuel Rates in Pakistan

Pakistan – (Staff Reporter/Web Desk) – Pakistan just saw a petrol price increase of Rs4.45 per litre, effective from August 6. The new rate now stands at Rs333.01, up from Rs328.56. This change comes as the Oil and Gas Regulatory Authority (Ogra) shifts to a fresh daily pricing system for fuel across the country.

While petrol got costlier, diesel actually became cheaper. High-speed diesel dropped by Rs2 per litre, moving from Rs385.86 down to Rs383.86. This mixed change reflects how global oil prices are being tracked more closely now.

Petroleum Minister Ali Pervaiz Malik explained that these daily rates are based on a seven-day average of international market prices. This approach is meant to match global standards and pass on price changes to the public faster.

Alongside the fuel price update, the government also raised the petroleum levy on diesel. The levy went up by Rs1.44, climbing from Rs70.82 to Rs72.26 per litre. This is part of the government’s broader tax and fiscal plans.

Why the switch to daily pricing?

Global oil markets have been shaky lately due to renewed conflict in the Middle East. This instability pushed the government to move away from older pricing models and adopt a daily review system instead.

Earlier, fuel prices were reviewed just once every two weeks. That changed to a weekly system back in February, right after tensions between Iran, Israel, and the US escalated. Iran had even closed the Strait of Hormuz, a key route for global oil supplies, which added more pressure on prices worldwide.

Things got worse when a short-lived truce between Iran and the US fell apart in June. Fears of a bigger war returned, and oil supply routes through the Strait faced fresh disruption.

How the new pricing system works

According to official details reviewed by Geo News, Ogra will now issue fuel prices every single day. These prices will be based on average international rates from the past seven days.

17072026-Letter to OGRA-Pricing Mechanism on Daily Basis by usmandatari

Importantly, Ogra can now announce these daily prices on its own, without needing approval from the prime minister or federal government each time. However, prices set on Fridays will stay the same through the weekend.

Ogra will also start publishing daily Platts reference prices starting July 1, 2026. The petroleum levy, though, still has limits. It cannot go beyond what the federal cabinet has approved, and any levy changes will need sign-off from the Finance Division.

Changes in fuel import rules too

The government also updated import rules for the new fiscal year. High-speed diesel imports will now go only through Pakistan State Oil (PSO). Meanwhile, other oil marketing companies can still import petrol, based on their share of the market.

Companies that fail to meet their import targets could face a nine-month ban on new import permissions. Kerosene oil and light diesel oil prices will also switch to daily pricing under this same framework.

This shift marks one of the biggest changes to Pakistan’s fuel pricing system in recent years, aiming for more transparency and quicker response to global oil market shifts.