Petrol price rises by Rs0.39, diesel by Rs2.40 per litre

Under the revised rates, petrol will now cost Rs341.98 per litre, while high-speed diesel will be priced at Rs370.69 per litre.

The new prices will remain effective for August 25, according to a notification.

The Oil and Gas Regulatory Authority (Ogra) has been publishing petroleum prices daily under the government's new pricing mechanism, allowing changes in international oil prices to be passed on to consumers more quickly.

Petroleum Minister Ali Pervaiz Malik said the daily prices are calculated on the basis of a rolling seven-day average of international petroleum prices, in line with international practice.

The government introduced the daily review mechanism amid volatility in global oil markets following renewed hostilities in the Middle East and uncertainty surrounding energy supplies through the Strait of Hormuz.

Previously, petroleum prices were revised on a fortnightly basis before the government shifted to weekly reviews and subsequently adopted the daily mechanism.

How the daily pricing system works

Under the federal cabinet-approved framework, Ogra issues daily ex-depot prices for petrol and high-speed diesel based on international prices recorded over the previous seven days.

The regulator can announce daily prices without prior approval from the prime minister or federal government. However, prices notified on Fridays remain unchanged on Saturdays and Sundays.

Ogra is also required to publish daily Platts reference prices, while any change in the petroleum levy requires approval from the Finance Division.

Fuel import rules revised

The government has also revised fuel import arrangements for the 2026-27 fiscal year.

Under the new framework, high-speed diesel imports will be handled exclusively through Pakistan State Oil (PSO), while oil marketing companies can import petrol according to their respective market shares.

Companies that fail to meet import or fuel-upliftment requirements may be barred from receiving fresh import permissions for up to nine months.

Prices of kerosene oil and light diesel oil will also be determined on a daily basis under the new mechanism.