Petrol Down, Diesel Up: Pak Adopts Daily Revision Model for Fuel Prices

As global crude oil prices cool down following a reduction in Middle East tensions, the Government of Pakistan has announced a new fuel price adjustment. While petrol prices have received a minor cut, diesel consumers face a slight price increase.

Under the latest update, the Pakistani government reduced the price of petrol by PKR 0.94 per liter, while increasing the price of High-Speed Diesel (HSD) by PKR 0.54 per liter.

Revised Fuel Rates in Pakistan

Following the latest adjustment, the updated retail fuel prices in Pakistan stand as follows:

• Petrol: PKR 324.98 per liter
• High-Speed Diesel (HSD): PKR 382.79 per liter

Tax Structure: The Pakistani government currently levies PKR 114 per liter in taxes and duties on petrol, and PKR 100 per liter on diesel.

Despite the recent hike, diesel prices remain significantly below their all-time high of PKR 520.35 recorded on April 3. Fuel prices had initially surged following geopolitical tensions in late February, with petrol peaking at PKR 458.41 in early April before gradually retracting.

Daily Price Revisions Introduced

Pakistan’s Petroleum Minister, Ali Pervaiz Malik, announced that fuel prices will now be revised on a daily basis to align closely with international market fluctuations. This replaces the weekly pricing model that had been implemented since early March alongside energy conservation measures.

Impact on the Public

• Petrol Cut: Primarily benefits private vehicle owners, two-wheelers, auto-rickshaws, and lower-to-middle-income commuters.
• Diesel Hike: Directly affects heavy transport, power generation, and commercial generators, which typically drives up freight and operational costs for logistics.

Fuel Price Status in India

In contrast, fuel prices across major Indian cities remained steady on Thursday despite volatility in global Brent crude oil benchmarks. State-run Oil Marketing Companies (OMCs) kept retail rates unchanged.

Prices in other major hubs, including Mumbai, Gurugram, and Jaipur, also recorded no changes.