Pakistan petrol, diesel prices rise from July 31

Pakistan’s government increased retail fuel prices on Thursday, raising petrol by Rs1.09 per litre and high-speed diesel (HSD) by Rs2.42 per litre, according to a notification issued by the Petroleum Division. The revised rates take effect on July 31, the notification said.

After the adjustment, petrol will be sold at Rs336.15 per litre, while HSD will retail at Rs393.04 per litre. Officials said the notification sets July 31 as the effective date for the new retail prices.

Daily fuel pricing to replace weekly revisions

Petroleum Minister Ali Pervaiz Malik said fuel prices will now be determined on a daily basis. The move marks a shift away from weekly revisions that were introduced in March.

Officials linked the change to renewed hostilities in the Persian Gulf and said the aim is to reflect international oil-market movements more quickly in domestic prices. The same officials described the daily approach as a faster pass-through mechanism compared with the weekly cycle.

Dealers reject the plan as demand remains concentrated

The All Pakistan Dealers Association rejected the plan to move to daily fuel pricing. The association said it would consider holding a protest this week.

Officials said consumption is heavily concentrated in petrol and HSD compared with other fuels. They cited monthly sales of about 700,000 to 800,000 tonnes for petrol and HSD combined, versus roughly 10,000 tonnes for kerosene.

Recent price swings cited in official data

Data referenced by officials highlighted earlier volatility in retail prices during the year. Diesel was reported to have risen from Rs281 per litre after the US–Iran conflict began on February 28, before reaching a peak of Rs520.35 on April 3.

The same data showed petrol rising from about Rs266 in early March and also hitting a high of Rs458.41 on April 3. Officials pointed to these moves as part of the backdrop for shifting to more frequent price setting.

For now, the Petroleum Division’s notification sets the latest increases and confirms July 31 as the date the new petrol and HSD prices become effective. It remains unclear how the daily mechanism will operate in practice and how quickly it will be reflected at retail outlets if dealers continue to oppose the change.