ISLAMABAD: Federal government has announced a significant increase in petroleum prices, raising the rates of both petrol and high-speed diesel with immediate effect.
According to a notification issued by the Ministry of Petroleum, the price of petrol has been increased by Rs5.44 per liter, taking the new price to Rs316.15 per liter.
The government also raised the price of high-speed diesel by Rs31.05 per liter, with the new rate set at Rs354.35 per liter.
The revised prices take effect immediately and come amid higher international oil prices and continued volatility in global energy markets.
The increase follows the government’s recent decision to move toward a daily fuel pricing mechanism, under which the Oil and Gas Regulatory Authority (OGRA) will determine petroleum prices based on international market trends.
The Ministry of Petroleum issued the official notification announcing the revised fuel prices.
Federal government has issued a three-day notification setting petroleum prices from July 18 to July 20, marking the first short-term pricing period under its newly announced fuel pricing mechanism.
According to the notification, the revised prices for petrol and high-speed diesel will remain in effect from July 18 through July 20, after which prices may be reviewed again.
Meanwhile, Pakistan’s petrol pump owners have rejected the federal government’s proposed petroleum price deregulation policy, warning that the plan could disrupt fuel distribution and pricing across the country.
Nauman Ali Butt, chairman of the All Pakistan Petrol Pump Owners Association, said that the association does not support the government’s proposed deregulation policy and urged authorities to reconsider the plan.
Butt said nearly 15,000 petrol pump owners nationwide have serious reservations about the proposal. He called on the government and oil marketing companies (OMCs) to consult all stakeholders before implementing any new pricing mechanism.
More read, OGRA to set fuel prices daily under new government policy
He warned that introducing daily fuel price adjustments could affect oil tanker operations, transportation logistics and the overall fuel pricing system, adding that petrol pump owners should not be forced to bear the burden of policy changes.
