Govt reduces petrol by 12 paisas, HSD by 66 paisas for next three days

Latest revision takes petrol to Rs336.03 per litre and HSD to Rs392.38 under the new pricing system

The federal government on Friday reduced the prices of petrol and high-speed diesel (HSD) by 12 paisas and 66 paisas per litre, respectively, for the next three days until Aug 3, 2026. 

According to a notification issued by the Ministry of Petroleum, the price of petrol has been fixed at Rs336.03 per litre, while HSD will now cost Rs392.38 per litre. 

The latest revision came a day after the government increased the prices of petrol and HSD by Rs1.09 and Rs2.42 per litre, respectively.

Read: Govt announces Rs1.09 increase in petrol, Rs2.42 in diesel price for July 31

On July 17, the government introduced a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East.

The daily fuel prices are based on a seven-day average of international market rates to align with international standards.

Earlier, the Petroleum Minister Ali Pervaiz Malik defended the government's daily fuel pricing mechanism, saying it had ended the practice of oil companies restricting petrol supplies in anticipation of price revisions under the previous system.

The move, however, drew criticism from transporters, businesses and opposition lawmakers, who argued that frequent price revisions would create uncertainty, drive up transport and freight costs, and make it difficult for businesses and consumers to plan expenses. Petrol pump owners also threatened a nationwide strike before suspending the protest after the government assured them their concerns would be addressed.

Speaking during a meeting of the National Assembly Standing Committee on Petroleum, chaired by Umar Farooq, Malik said petrol and diesel prices continue to be calculated using a seven-day rolling average of international market prices, despite now being revised daily instead of fortnightly.

He said the government had delegated the authority to determine petroleum product prices to the Oil and Gas Regulatory Authority (Ogra), which is responsible for bringing all stakeholders together before finalising prices.

Pakistan does not currently have strategic petroleum reserves capable of meeting demand for several months. Fuel requirements are mainly managed through commercial stocks held by oil marketing companies, refineries, and imported cargo.