The Petroleum Division on Friday announced revised petroleum prices effective from July 18 to July 20, with high-speed diesel (HSD) recording a steep increase while petrol prices rose modestly.
The price of HSD increased by Rs31.05 per litre, taking it from Rs323.30 to Rs354.35 per litre. Petrol prices were raised by Rs5.44 per litre, bringing the new rate to Rs316.15 per litre.
Federal Minister for Petroleum Ali Pervaiz Malik said the government has taken another step toward deregulating the petroleum sector by introducing daily fuel price revisions.
“OGRA will announce petroleum prices daily, based on Platts’ 7-day moving average data,” the minister said.
He added, “OGRA will publish all international benchmarks & detailed calculation sheets on its website. Government to fix fuel prices daily due to renewed hostilities in Persian Gulf.”
The announcement drew an immediate response from industry stakeholders. The All Pakistan Petroleum Dealers Association rejected the deregulation policy, warning that it could disrupt fuel transportation, oil tanker operations, and the existing pricing mechanism. The association urged the government to consult stakeholders before implementing the decision.
Oil Marketing Companies (OMCs) also expressed concern, saying the retail sector is not adequately prepared for daily price adjustments. They warned that the new mechanism could create challenges in stock valuation, inventory management, and cash flow while affecting dealers’ profit margins. The companies further cautioned that frequent price changes could increase market uncertainty and create confusion for consumers.
