ISLAMABAD: The Pakistani government has increased petrol and diesel prices by Rs5.44 and Rs31.05 per liter, respectively, for the next three days until July 20, the energy ministry said late Friday, amid a rise in global oil prices.
The global oil price rose Friday above $86 a barrel, close to its highest level in a month, as crossings through the Strait of Hormuz fell to a three-week low due to renewed hostilities between the United States and Iran.
Pakistan’s latest revision took the price of petrol Rs316.15 per liter, while that of diesel reached Rs354.35 in a move that appeared to pass on the impact of higher import premiums and global prices to consumers.
“The Government of Pakistan has revised the ex-depot prices of the petroleum products for 18th July, 2026 till 20th July, 2026,” the energy ministry said in a notification.
Pakistan has traditionally revised petroleum prices every fortnight but switched to weekly adjustments after fighting erupted between the US and Iran in late February, citing heightened volatility in international energy markets.
However, Petroleum Minister Ali Pervaiz Malik announced earlier on Friday that regulatory authorities will begin setting fuel prices on a daily basis as renewed hostilities between the US and Iran push up global oil prices.
The government has handed over the responsibility for price-setting to the country’s oil regulator under a broader plan to increase transparency and deregulate the sector, according to the minister.
The Oil and Gas Regulatory Authority would publish the international benchmark prices and the factors used to determine retail fuel prices to improve transparency.
“People should know why it is necessary to increase prices,” Malik continued, adding that publishing the pricing formula would allow consumers to better understand how domestic fuel prices are calculated.
