A notification issued by the Ministry of Petroleum says new prices came into effect on July 28
ISLAMABAD: (UrduPoint/Pakistan Point News-July 28th, 2026) The Oil and Gas Regulatory Authority (OGRA) has announced revised prices for petroleum products, reducing the price of petrol while increasing the rate of high-speed diesel.
A notification issued by the Ministry of Petroleum said that the new prices came into effect on July 28.
Under the revised rates, the price of petrol has been reduced by Rs1 per litre, bringing it down from Rs335.18 to Rs334.18 per litre.
In contrast, the price of high-speed diesel (HSD) has been increased by Rs3.37 per litre, raising it from Rs383.46 to Rs386.83 per litre.
New Petrol and Diesel prices from July 28
The latest price adjustment follows the government's periodic review of petroleum prices based on fluctuations in international oil markets and other relevant pricing factors.
The revised rates will remain in force until the next official review, unless otherwise notified by the government.
The Federal government introduced a daily petroleum pricing mechanism in response to continued volatility in global oil markets, driven by renewed tensions in the middle East.
The move replaces the weekly fuel price review system that was introduced earlier this year after hostilities between Israel, the United States and Iran disrupted global energy markets. Before that, petroleum prices in Pakistan were revised on a fortnightly basis.
According to official documents approved by the federal cabinet, the Oil and Gas Regulatory Authority (OGRA) will now determine and notify ex-depot prices of petrol and high-speed diesel (HSD) every day.
Under the new framework, fuel prices will be calculated using the average international market prices recorded over the previous seven days. OGRA has also been granted the authority to announce revised prices without seeking prior approval from the prime minister or the federal government.
The policy further states that fuel prices announced on Fridays will remain unchanged on Saturdays and Sundays. In addition, OGRA has been directed to publish daily Platts benchmark prices from July 1, 2026, as part of the revised pricing mechanism.
The government has retained the petroleum levy within the ceiling approved by the federal cabinet. However, any future adjustment in the levy will require formal approval from the Finance Division.
The official document also introduces new import regulations for the 2026-27 fiscal year. Under the revised policy, imports of high-speed diesel will be handled exclusively by Pakistan State Oil (PSO), while private oil marketing companies (OMCs) will continue importing petrol according to their respective market shares.
To strengthen supply management, companies that fail to meet their import commitments or upliftment obligations may be barred from obtaining fresh import permits for up to nine months.
The new pricing framework also extends to kerosene oil and light diesel oil, whose prices will now be reviewed and notified on a daily basis.
The government has instructed all relevant authorities to ensure the immediate implementation of the revised fuel pricing system, which aims to improve responsiveness to international oil price fluctuations and enhance the efficiency of the domestic petroleum market.
