Under revised rates, new petrol price set at Rs349, HSD at Rs374.31 per litre, reads notification
The government on Thursday increased the prices of petrol and high-speed diesel (HSD) by Rs2.84 and Rs2.28 per litre, respectively, amid volatility in international oil markets.
Under the revised rates, petrol will now cost Rs349 per litre, while HSD will be priced at Rs374.31 per litre.
According to the notification, the new fuel prices will be effective for September 4.
Ogra has also begun publishing daily petroleum prices on its website to improve transparency and allow changes in international oil prices to be passed on to consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily prices are based on a seven-day average of international market prices, in line with international practice.
Revised fuel rates under daily price mechanism:
| Effective date | Products | Old rates | New rates | Changes in prices Rs/litre |
| September 4 | Petrol | 346.16 | 349.00 | +2.84 |
| September 4 | High-speed diesel | 372.03 | 374.31 | +2.28 |
Amid volatility in global oil rates on the back of renewed hostilities in the Middle East, the government decided to switch to a daily fuel price review mechanism.
The government had introduced a weekly fuel price review system after the conflict in the Middle East began on February 28, when Israel and the United States attacked Iran, leading Tehran to shut the Strait of Hormuz — the main route before the war for around a fifth of global energy supplies.
Tensions have mounted since a fragile June truce between Tehran and Washington collapsed, reviving fears of full-scale war and disrupting energy flows through the Strait.
Previously, the petroleum rates were revised fortnightly.
Daily fuel pricing framework
An official document seen by Geo News has revealed key details of the federal cabinet-approved petroleum pricing mechanism, under which Ogra will issue daily ex-depot prices for petrol and high-speed diesel.
Under the new framework, fuel prices will be determined using the average international market prices recorded over the previous seven days.
The regulator will be authorised to announce daily prices without requiring prior approval from the prime minister or the federal government, while prices notified on Fridays will remain unchanged on Saturdays and Sundays.
The document stated that Ogra will publish daily Platts reference prices from July 1, 2026.
It also stipulated that the petroleum levy cannot exceed the limit approved by the federal cabinet, while any change in the levy rate will require approval from the Finance Division.
