Following the latest revision, petrol will be available at Rs370.80 per litre, while the price of high-speed diesel (HSD) has been set at Rs398.04 per litre. The government continues to impose taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel.
According to a notification issued by the Petroleum Division, the revised prices will take effect from September 11 (Friday).
The latest HSD price remains significantly below its peak of Rs520.35 per litre, recorded on April 3. The price had risen from Rs281 per litre after the US-Iran conflict began on February 28.
Petrol prices also reached a record Rs458.41 per litre on April 3, after rising from Rs266 per litre during the first week of March.
In July, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would be reviewed and fixed on a daily basis, citing fluctuations in international oil prices following renewed hostilities between Iran and the United States.
Before the shift to daily revisions, the government had been announcing weekly changes in fuel prices since early March. The measures were introduced alongside fuel conservation initiatives amid concerns over potential disruptions to oil supplies due to the conflict in the Middle East.
The government had also announced targeted relief measures in April to provide subsidised fuel to eligible consumers.
The petroleum minister said the cabinet and prime minister had assigned the Oil and Gas Regulatory Authority (Ogra) responsibility for determining fuel prices daily in line with international market trends.
Petrol is primarily consumed by private vehicles, small transport vehicles, rickshaws and motorcycles, making price changes particularly significant for middle- and lower-middle-income households. Diesel, meanwhile, is widely used in heavy transport, power plants and large generators, meaning changes in its price can have a broader impact on the economy and consumers.
Petrol and HSD remain the government’s major petroleum revenue sources, with combined monthly sales of around 700,000 to 800,000 tonnes, while monthly kerosene demand stands at approximately 10,000 tonnes.
