Pakistan Fuel Prices: Petrol, Diesel Rates Today
News Desk
Islamabad: Fuel prices in Pakistan have continued to fluctuate sharply since the government introduced a daily mechanism for determining petroleum prices, with petrol and high-speed diesel recording multiple increases and decreases within a few weeks.
As of today, petrol is being sold at Rs327.62 per litre, while high-speed diesel is priced at Rs380.86 per litre.
Following the federal government’s approval, the Oil and Gas Regulatory Authority (OGRA) reduced petrol prices by Rs2.20 per litre and high-speed diesel by Rs1.50 per litre. Petrol had previously been priced at Rs329.82 per litre, while diesel was selling for Rs382.36.
The latest reductions come amid considerable volatility in domestic fuel prices since the introduction of daily price determination.
Data from the period beginning July 20 shows that petrol prices were reduced eight times and increased seven times. High-speed diesel, meanwhile, witnessed six reductions but was increased on eight occasions.
The frequent changes reflect the impact of fluctuations in international oil prices, currency movements and taxation on domestic fuel rates.
On July 20, petrol recorded a marginal reduction of 35 paise, while diesel increased by Rs5.71 per litre. Fuel prices then rose for four consecutive days from July 21 to July 24.
After remaining unchanged on July 25, petrol was reduced by Rs1 on July 27, while diesel increased by Rs3.37. Further changes followed almost daily, with both fuels recording alternating increases and reductions.
On July 31, the government reduced petrol by 12 paise and diesel by 66 paise per litre. The prices remained unchanged until August 3.
Another round of reductions came on August 4, when petrol became cheaper by Rs4.08 and diesel by Rs2.45 per litre. On August 5, petrol and diesel prices were reduced by Rs3.39 and Rs4.07, respectively.
However, the trend reversed the following day. Petrol increased by Rs4.45 per litre on August 6, while diesel was reduced by Rs2.
The government introduced the daily pricing mechanism after Federal Petroleum Minister Ali Pervez Malik announced on July 17 that OGRA would determine and publish petroleum prices every day.
Previously, petroleum prices were generally reviewed every 15 days based on international oil prices, the exchange rate and applicable taxes.
The government said the new mechanism was introduced because global oil prices have been experiencing rapid fluctuations amid tensions between the United States and Iran.
Under the new system, authorities aim to respond more quickly to changes in international markets while maintaining greater price alignment and market stability for consumers.
