Petrol, diesel prices raised by over Rs13 per litre for coming week
- Petrol price increased by Rs13.18 per litre to Rs310.71
- High-speed diesel hiked by Rs13.80 per litre to Rs323.30
- Kerosene oil price also increased by Rs11.19 per litre
- Higher fuel prices expected to add pressure on transport costs and inflation
The federal government has increased the prices of petrol and high-speed diesel (HSD) by more than Rs13 per litre for the week beginning July 11, further increasing fuel costs for consumers across Pakistan.
| Fuel Type | Previous Price (Rs/Litre) | Increase | New Price (Rs/Litre) |
|---|---|---|---|
| Petrol | 297.53 | +13.18 | 310.71 |
| High-Speed Diesel (HSD) | 309.50 | +13.80 | 323.30 |
| Kerosene Oil | 231.14 | +11.19 | 242.33 |
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs13.18 per litre, taking the new rate to Rs310.71 per litre. The price of high-speed diesel has also been raised by Rs13.80 per litre, bringing the new price to Rs323.30 per litre.
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The Oil and Gas Regulatory Authority (OGRA) also announced an increase in the price of kerosene oil. Its rate has gone up by Rs11.19 per litre, with the new price fixed at Rs242.33 per litre.
The latest revision comes just a week after the government reduced the prices of both petrol and high-speed diesel by Rs1.97 per litre during the previous weekly review.
Pakistan has been reviewing petroleum prices on a weekly basis since regional tensions escalated following the US-Israel conflict with Iran on February 28, with international oil market movements continuing to influence domestic fuel rates.
Meanwhile, global oil prices edged lower on Friday as traders grew optimistic that shipping through the Strait of Hormuz would gradually return to normal despite recent military tensions between the United States and Iran.
Brent crude futures fell by 52 cents, or 0.68%, to $75.78 per barrel, while US West Texas Intermediate (WTI) crude declined by 83 cents, or 1.15%, to $71.25 per barrel. Despite the decline, oil prices remained on course to end the week significantly higher.
The recent tensions intensified after Iranian armed forces launched attacks on US military infrastructure in Gulf states in response to US strikes on Iran’s southern coastal and eastern provinces. The developments delayed the full reopening of the Strait of Hormuz, a strategic waterway that previously handled around 20% of the world’s daily oil and gas supplies before the conflict.
The increase in domestic fuel prices is expected to affect millions of consumers. Petrol is widely used by owners of motorcycles, cars and rickshaws, making it a major expense for middle- and lower-income households.
High-speed diesel, on the other hand, powers trucks, buses, trains and agricultural machinery such as tractors, tube wells and threshers. Any increase in diesel prices is generally considered inflationary, as it raises transportation and farming costs, often leading to higher prices of vegetables, food items and other essential goods.
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