The Oil & Gas Regulatory Authority (OGRA) has announced new prices for petroleum products, decreasing the rates of high-speed diesel and little increased the rate of petrol. According to the notification, the price of petrol has been increased by Rs 2.97 per litre. The price of high-speed diesel has been reduced by Rs 32.63 per litre.
The new price of petrol has been fixed at Rs 337.51 per litre. Similarly, the new price of diesel has been fixed at Rs 363.6 per litre.
Under the new daily pricing system, on July 17, the government increased the price of petrol by Rs 5.44 per litre and high-speed diesel (HSD) by Rs 31.50 per litre for the next three days. Following this increase, petrol reached Rs 316.15 per litre, while diesel was priced at Rs 354.35 per litre. Later, on July 20, the government reduced the price of petrol by Rs 0.35 per litre, bringing it down to Rs 315.80 per litre. However, the price of diesel increased by Rs 5.71 per litre on the same day, reaching Rs 360.60 per litre.
On July 21, fuel prices were increased again, with petrol rising by Rs 4.93 per litre and high-speed diesel by Rs 7.15 per litre. As a result, petrol reached Rs 320.73 per litre and diesel rose to Rs 367.21 per litre. On July 22, the government further increased petrol and diesel prices by Rs 6.39 per litre and Rs 7.83 per litre, respectively. After the increase, petrol was priced at Rs 327.12 per litre, while diesel reached Rs 375.40 per litre.
On July 23, the upward trend continued, with petrol prices increasing by Rs 4.40 per litre and diesel by Rs 3.62 per litre. The new prices stood at Rs 331.52 per litre for petrol and Rs 378.66 per litre for diesel. On July 24, the government once again raised petroleum prices, increasing petrol by Rs 3.66 per litre and high-speed diesel by Rs 4.80 per litre. Following the hike, petrol reached Rs 335.18 per litre and diesel climbed to Rs 383.46 per litre.
Earlier, Federal Minister for Petroleum Ali Pervaiz Malik said that the government is fully aware of the difficulties and hardships being faced by the people and is making every effort to provide immediate relief wherever possible. The decision to subsidise petroleum product prices is also part of these relief measures.
Speaking at a press conference alongside Minister for Information and Broadcasting Attaullah Tarar, Petroleum Minister Ali Pervaiz Malik announced that the price of diesel would be reduced by Rs 30 to Rs 32 per litre. He said the significant reduction was being made with the cooperation of the refineries, providing major relief to consumers.
Ali Pervaiz Malik said that the government’s ongoing efforts would help the country overcome these difficult times. He added that the government would make every possible effort to protect the people from the impact of rising prices. The Petroleum Minister said that petroleum product prices have increased due to the escalation of the war, while many countries are also facing difficulties in ensuring the availability of diesel.
Petroleum Minister Ali Pervaiz Malik said that the people are suffering due to the ongoing war and that the government will take every possible step to address their problems. He said that tax relief measures had been explored in consultation with the IMF, adding that the efforts being made by the country’s leadership would help overcome the current difficulties. The government, he said, would utilise all available resources to resolve the problems being faced by the people.