Govt raises petrol price by Rs6.39, diesel by Rs7.83 for July 23

The federal government on Wednesday night increased the prices of petrol and high-speed diesel (HSD) by Rs6.39 and Rs7.83 per litre, respectively, citing fluctuations in international oil prices.

According to a notification issued by the Petroleum Division, the price of petrol has been raised to Rs327.12 per litre from Rs320.73, while HSD will now cost Rs375.04 per litre, up from Rs367.21.

The revised prices will be effective for July 23, 2026 under the latest pricing mechanism.

The increase comes as global oil markets remain volatile following renewed regional tensions, prompting the government to pass on the higher import cost of petroleum products to consumers.

The price revision also follows a decision by the All Pakistan Petroleum Pump Owners Association (APPPOA) to defer its planned nationwide strike for two weeks after successful negotiations with Petroleum Minister Ali Pervaiz Malik.

The association had earlier announced a countrywide shutdown after talks with the government over the implementation of a daily fuel pricing mechanism failed.

Petrol is primarily consumed by private vehicles, motorcycles, rickshaws and small transport, making price changes particularly significant for middle- and lower-income households.

HSD, meanwhile, is widely used in heavy transport, agriculture, power generation and industrial sectors, meaning its price has a broader impact on inflation and the overall cost of doing business.

Petrol and HSD remain the country's largest-selling petroleum products, with combined monthly sales of around 700,000 to 800,000 tonnes, compared with about 10,000 tonnes for kerosene.