ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has revised fuel prices for July 21, 2026, lowering the petrol price in Pakistan by Re0.35 per litre while increasing the price of high-speed diesel by Rs5.71 per litre, according to an official notification.
Under the latest revision, the price of petrol has been reduced to Rs315.80 per litre, providing a slight relief to motorists. Meanwhile, the price of high-speed diesel has been increased to Rs360.06 per litre, reflecting a significant adjustment in response to changes in international oil markets.
OGRA confirmed that the revised fuel rates came into effect on July 21 and will remain applicable until the next price review under the newly introduced daily pricing mechanism.
The Petroleum Division stated that the updated petrol and diesel prices were determined by OGRA in line with the government's revised fuel pricing policy. The new system was recently introduced to ensure faster adjustments in line with fluctuations in global oil prices and improve transparency in the pricing process.
Under the revised mechanism, OGRA no longer requires prior approval from the prime minister or the federal government before announcing changes in petroleum prices. Instead, the regulator calculates daily fuel prices based on the average international oil prices recorded over the previous seven days and issues notifications accordingly.
However, the government has clarified that fuel prices announced before the weekend will remain unchanged on Saturdays and Sundays to maintain stability for consumers.
Petroleum Minister Ali Pervez Malik said the new pricing mechanism is aimed at making fuel pricing more transparent and easier for the public to understand. He added that the government is gradually moving towards deregulation of petroleum products while ensuring that consumers are protected from unnecessary price burdens.
Addressing concerns over fuel overcharging, the minister said Prime Minister Shehbaz Sharif has directed authorities to take strict action against petrol pumps charging above the officially notified rates. He warned that legal action would be taken against any filling station found violating government pricing regulations.
The latest adjustment reflects the government's effort to align domestic fuel prices with international market trends while ensuring greater transparency and accountability in Pakistan's petroleum pricing system.
