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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

Web Desk July 31, 2026 1 min read

A picture showing a petrol pump—FILE PHOTO

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.

COMMENTS (3)

Rafique Khan - Karachi | 3 weeks ago | Reply The Exploitation of Fuel Price Mechanisms Dear Editor I am writing to express my grave concern over the frequent changes in petroleum prices in Pakistan. This volatile pricing model directly triggers artificial inflation leaving the public at the mercy of fleet operators and retail sellers. These market actors exploit fuel pricing fluctuations to unilaterally hike the costs of daily essentials using market uncertainty to maximize their margins and placing a compounding economic burden on ordinary citizens.This current framework completely contradicts global petroleum price mechanisms. Non-oil-producing countries typically align with Brent crude benchmarks utilizing stable forward-booking mechanisms and letters of credit pegged to recognized international platforms like London or Dubai Platts. Pakistan s departure from these stable practices invites domestic market manipulation.Furthermore the authority granted to the Oil and Gas Regulatory Authority OGRA requires urgent review. OGRA should serve as a recommending body not the final authority on pricing. It appears the government has shifted its core regulatory responsibilities to OGRA to shield itself from public anger. In the absence of a robust political opposition the public remains unprotected from these erratic economic policies. This systemic failure reflects a deeper crisis in our governance. To borrow a poignant perspective democracy in Pakistan has often behaved like a foreign seed one that struggles to take root or flourish when planted in incompatible soil. We call upon the authorities to immediately reform this malpractice and establish a transparent stable energy pricing mechanism.

Ahmad | 3 weeks ago | Reply What a joke

Salim | 3 weeks ago Who cares go to any mall and you will see jam pack go to any petrol pump you will see people in flashy cars filling up. It s us the whole nation which is dead.

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