ISLAMABAD: Pakistan’s government on Monday increased the price of diesel by Rs5.71 and reduced petrol by Rs0.35 per liter, the energy ministry said, as the country transitions to daily fuel price revisions due to global market volatility.
Pakistan last week announced that it will begin setting fuel prices on a daily basis as fresh US-Iran military exchanges have pushed up global oil prices, handing responsibility for setting prices to the country’s oil regulator under a broader plan to increase transparency and deregulate the sector.
Islamabad has traditionally revised petroleum prices every fortnight but switched to weekly adjustments after fighting erupted between the US and Iran in late February, citing heightened volatility in international energy markets.
On Monday, Pakistan raised the price of high-speed diesel by Rs5.71 to Rs360.06 ($1.3) and reduced the price of petrol by Rs0.35 to Rs315.8 ($1.1), according to a notification issued by the energy ministry.
“Based on revised petroleum pricing mechanism, issued by Federal Government, Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of the petroleum products for 21st July, 2026,” the notification said.
Also on Monday, Petroleum Minister Ali Pervaiz Malik met a Pakistan Petroleum Dealers Association (PPDA) delegation, led by Chief Adviser Malik Khuda Baksh, to discuss petroleum pricing reforms, deregulation, and matters concerning petroleum dealers, according to the Pakistani information ministry.
He told petroleum dealers that the government was moving toward a market-driven pricing system to promote transparency and protect consumers.
“The PPDA delegation appreciated the government’s effective management of petroleum product supplies during the challenges arising from the Strait of Hormuz crisis,” the information ministry said in a statement.
“PPDA Chief Adviser Malik Khuda Baksh said that while several neighboring countries experienced law and order situations due to petroleum shortages, Pakistan successfully maintained smooth supplies through timely and effective government measures. He assured the Minister of the Association’s full support for the Government’s policy.”
However, the PPDA delegates requested that petroleum dealers be consulted during the formulation of rules and operational modalities between Oil Marketing Companies (OMCs) and dealers.
“The Minister assured the delegation that their views would be duly considered,” the information ministry said.
