ISLAMABAD: Pakistan’s government increased the prices of petrol and high-speed diesel (HSD) on Tuesday, a notification by the energy ministry said, as the country shifts to daily fuel price revisions due to global market volatility caused by renewed fighting between the United States (US) and Iran.
The US and Iran have exchanged attacks for the past 10 days, constraining fuel supplies through the Strait of Hormuz maritime route. Nearly 20 percent of the world’s oil and gas supplies passed through the strait before the war between the US and Iran erupted in February.
“Based on revised petroleum pricing mechanism, issued by federal government, Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of petroleum products for July 22nd, 2026, as per following details,” the energy ministry notification said.
As per the notification, the price of petrol has been increased by Rs4.93 per liter to Rs320.73, while the price of high-speed diesel has been increased by Rs7.15 per liter to Rs367.21 per liter.
Pakistan last week announced it would set fuel prices on a daily basis as fresh US-Iran military exchanges push global oil prices higher, handing responsibility for setting prices to the country’s oil regulator under a broader plan to increase transparency and deregulate the sector.
Islamabad has traditionally revised petroleum prices every fortnight but switched to weekly adjustments after fighting erupted between the US and Iran, citing heightened volatility in international energy markets.
The development takes place as local media outlets reported that the All Pakistan Petrol Pumps Owners Association (APPPOA) announced a nationwide strike from Wednesday night, after their negotiations with the government over daily petroleum pricing revisions failed.
APPPOA Vice Chairman Nauman Ali Butt said the government’s plan to revise petroleum prices on a daily basis was “unacceptable to petrol pump dealers and unworkable,” according to Pakistani news website Dawn.
“The APPPOA has decided to observe a nationwide strike from midnight on Wednesday, which means around 15,000 petrol pumps across Pakistan will remain closed on Thursday,” APPPOA Chairman Humayun Khan said.
Pakistan imports the bulk of its petroleum requirements from the Middle East and changes prices of fuel based on prevalent international oil prices and the rupee-US dollar exchange rate.
Fuel price changes have a broad impact on inflation by affecting transportation costs, electricity generation and the prices of goods across the economy.
