The federal government has once again increased petroleum prices, marking the second consecutive fuel price hike within just two days under Pakistan’s recently introduced daily petroleum pricing mechanism. The latest revision has pushed petrol and diesel prices to new highs, adding further pressure on consumers already grappling with rising inflation and increased living costs.
According to a notification issued by the Oil and Gas Regulatory Authority (OGRA) in coordination with the Petroleum Division, the price of petrol has been increased by Rs4.40 per litre, taking the new rate to Rs331.52 per litre. Meanwhile, the price of high-speed diesel (HSD) has been raised by Rs3.62 per litre, bringing its new retail price to Rs378.66 per litre.
The revised prices came into effect immediately after the official announcement, meaning consumers across the country are already paying the updated rates at fuel stations.
The latest increase comes only a day after another significant hike in petroleum prices. On the previous day, the government had increased the price of petrol by Rs6.39 per litre, raising it to Rs327.12 per litre, while high-speed diesel saw an even bigger increase of Rs7.83 per litre, reaching Rs375.04 per litre.
With two consecutive price revisions in less than 48 hours, petrol has become Rs10.79 per litre more expensive, while diesel prices have climbed by Rs11.45 per litre during the same period.
The government says these adjustments are being made under the newly implemented daily petroleum pricing mechanism, which links domestic fuel prices directly with fluctuations in international oil markets and changes in the exchange rate. Unlike the previous fortnightly pricing system, the new mechanism allows authorities to revise fuel prices more frequently to reflect global market trends.
Officials maintain that the revised pricing policy is intended to ensure greater transparency and align domestic fuel prices with actual import costs. They argue that timely adjustments help reduce the financial burden on the national exchequer while minimizing pricing distortions caused by sudden changes in international crude oil prices.
However, the repeated increases have raised concerns among consumers, businesses, and transporters. Higher fuel prices are expected to increase transportation costs, which often translate into higher prices for essential goods, food items, and public transport fares. Industries that rely heavily on diesel-powered machinery and transportation may also experience higher operational costs.
Economic experts believe that sustained increases in fuel prices could contribute to inflationary pressures in the coming weeks. Since petroleum products play a vital role in Pakistan’s economy, any upward adjustment tends to impact multiple sectors, including agriculture, manufacturing, logistics, and retail markets.
Transport associations and commuters have also expressed concern over the back-to-back hikes, warning that the rising cost of fuel could force transport operators to seek fare increases. Similarly, farmers may face higher expenses for operating tractors, tube wells, and transporting agricultural produce, particularly during the ongoing farming season.
The government has defended the pricing mechanism by pointing to volatility in global oil markets and currency fluctuations. International crude oil prices have remained uncertain in recent weeks due to geopolitical developments, supply concerns, and changing market demand, all of which influence Pakistan’s fuel import costs.
As Pakistan imports a significant portion of its petroleum requirements, domestic fuel prices remain highly sensitive to international market conditions and the value of the Pakistani rupee against the US dollar.
With the daily pricing mechanism now in place, consumers may continue to witness more frequent changes in fuel prices depending on global oil trends. Analysts say the coming days will remain crucial as international energy markets continue to fluctuate, potentially leading to further adjustments if crude prices or exchange rates continue to rise
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