KARACHI: Pakistan’s government has increased the price of petrol by Rs5.36 per liter and high-speed diesel (HSD) by Rs11.37 per liter for the next fortnight, the Finance Division announced late Tuesday.
The revised prices took effect from today, July 16.
According to the official notification, petrol now costs Rs272.15 per liter, up from Rs266.79, while HSD has risen to Rs284.35 per liter from the previous Rs272.98.
“The Government has revised the prices of petroleum products for the fortnight starting tomorrow, based on the recommendation of OGRA [Oil and Gas Regulatory Authority] and the relevant Ministries,” the Finance Division said in its statement.
Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations and changes in domestic taxation.
The increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food. The effect is further amplified by Pakistan’s reliance on imported fuel.
This marks the third consecutive increase in fuel prices. On June 16, the government raised petrol by Rs4.80 per liter and HSD by Rs7.95. Another hike followed on July 1, with petrol up by Rs8.36 and HSD by Rs10.39.
Fuel price volatility escalated last month during the 12-day conflict between Iran and Israel, when Pakistan instructed oil marketing companies to maintain mandatory reserve levels.
While the government ruled out supply shortages, the conflict triggered concerns about a potential disruption in oil flows through the Strait of Hormuz.
