The federal government has increased the prices of petrol and high-speed diesel for the next fortnight following approval by the Oil and Gas Regulatory Authority (OGRA), according to a notification issued by the Petroleum Division on Thursday.
Under the revised rates, petrol has become Rs1.09 per litre more expensive, taking the price to Rs336.15 per litre, while the price of high-speed diesel has risen by Rs2.42 per litre to Rs393.04 per litre.
The new prices will come into effect on August 1 and will remain in force until the next fortnightly review unless revised earlier.
Pakistan adjusts petroleum prices every two weeks based on OGRA’s recommendations, with changes determined by movements in international oil prices and fluctuations in the exchange rate.
The latest revision means consumers across the country will pay higher prices for both petrol and diesel during the upcoming pricing period.
The increase comes shortly after the federal cabinet approved a new oil refining policy designed to reduce Pakistan’s dependence on imported petroleum products by boosting domestic refining capacity.
The government expects the policy to attract around $6 billion in investment in the country’s refining sector. The framework was prepared in consultation with key stakeholders, including the Special Investment Facilitation Council (SIFC).