The federal government has reduced the price of petrol by Rs0.75 per litre while raising the price of high-speed diesel (HSD) by Rs2.24 per litre, with the revised rates taking effect from 30 July.
According to a notification issued by the Ministry of Petroleum, petrol will now retail at Rs335.06 per litre, while the price of HSD has been increased to Rs390.62 per litre.
The latest adjustment comes just a day after the government raised petrol and diesel prices by Rs1.63 and Rs1.55 per litre, respectively.
Pakistan introduced a daily fuel price review mechanism on 17 July in response to volatility in global oil markets following renewed tensions in the Middle East.
Under the new system, fuel prices are calculated using a seven-day average of international petroleum prices, with the aim of keeping domestic rates aligned with global market trends.
Fuel prices have been revised several times during July, resulting in a cumulative increase of more than Rs20 per litre for petrol, while diesel has also registered a substantial rise. The government has attributed the adjustments to fluctuations in international crude oil prices, exchange rates and import costs.
The Ministry of Petroleum says the daily pricing mechanism is designed to reflect changes in global markets and import expenses more quickly. However, analysts argue that while price increases are passed on to consumers without delay, reductions should be implemented just as promptly to strengthen public confidence in the system.
Pakistan currently lacks strategic petroleum reserves capable of meeting domestic demand for several months, relying instead on commercial fuel stocks maintained by oil marketing companies, refineries and imported shipments.