The federal government on Monday reduced the price of petrol by Rs0.35 per litre while raising the rate of High-Speed Diesel (HSD) by Rs5.71 per litre.
Petroleum Division issued a notification confirming that the revised rates take effect on Tuesday, July 21. Following the decision, petrol costs Rs315.80 per litre, and HSD stands at Rs360.06 per litre.
The price adjustments reflect price movements in global energy markets linked to hostilities in the Middle East. Prior to the shift, HSD peaked at Rs520.35 on April 3, after rising from Rs281 per litre when military conflict between the United States (US) and Iran began on February 28. Petrol reached its peak of Rs458.41 on April 3, up from Rs266 in early March.
Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices will now be determined on a daily basis due to international market movements.
“The cabinet and the prime minister have decided to give the Oil and Gas Regulatory Authority the responsibility of deciding fuel prices on a daily basis,” stated Minister Ali Pervaiz Malik.
The federal government previously operated on a weekly price revision schedule introduced in March, alongside fuel conservation measures and targeted relief subsidies launched in April to address Middle East supply chain disruptions.
Petrol fuels private cars, rickshaws, and motorcycles, directly affecting middle and lower-middle-income groups. HSD powers heavy transport fleets, industrial power plants, and commercial generators, influencing broad public freight and energy costs.
