ISLAMABAD: Pakistan’s government on Thursday raised the prices of petrol and high-speed diesel (HSD) by Rs2.84 and Rs2.28 per litre, respectively, amid volatility in international oil markets.
Under the revised rates, petrol will now be sold at Rs349 per litre, while HSD will cost Rs374.31 per litre.
According to a notification, the new fuel prices will take effect from September 4.
Meanwhile, the Oil & Gas Regulatory Authority (OGRA) has started publishing daily petroleum prices on its website to enhance transparency and enable international oil price fluctuations to be passed on to consumers more promptly.
In the previous review on Wednesday, the government increased the price of petrol by Rs2.29 per litre and diesel by Rs1.11 per litre.
Pakistan’s daily fuel price mechanism
Pakistan’s government shifted to a daily fuel price review mechanism amid heightened volatility in global oil markets triggered by renewed tensions in the Middle East. The move is aimed at ensuring that changes in international oil prices are reflected more quickly in domestic fuel rates.
The government had earlier replaced the fortnightly pricing system with weekly reviews following the outbreak of the Middle East conflict.
Fuel prices revised for 4 September 2026. pic.twitter.com/XwtM4Xbk86
— PakWheels.com (@PakWheels) September 3, 2026
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers, and changes in its price affect the middle and lower-middle classes.
Similarly, changes in diesel prices also impact the public at large, as it is mainly used in the heavy transport sector, power plants and large generators.
Oil prices hit 6-week highs
Oil prices hovered near six-week highs on Thursday as fresh US strikes on Iran and renewed Israeli threats against Tehran raised concerns over potential disruptions to oil supplies from the Middle East.
ALSO READ: Hormuz Closure Worsening Debt Problems for Developing Nations: IMF Chief
Brent crude futures rose $1.76, or 1.8%, to $97.39 a barrel by 1025 GMT, recovering from earlier losses, while US West Texas Intermediate (WTI) crude futures gained $1.91, or 2.1%, to $92.92. Both benchmarks were on track for a fourth consecutive session of gains after reaching six-week highs earlier in the day.
The latest attacks represent the most significant exchange of fire between the US and Iran since July, with the conflict now in its seventh month.
