
Petrol price likely to rise for next 15 days
According to reports, the Oil Companies Advisory Council (OCAC) has completed a working paper based on recent international market trends.
The Oil and Gas Regulatory Authority (OGRA) is expected to send its summary to the federal government today.
The final decision will rest with Prime Minister Shehbaz Sharif, who will approve any changes to fuel prices based on OGRA's recommendations. New prices will be implemented once approved.
As per the proposed summary, the price of high-speed diesel could go up by Rs5.27 per litre, while petrol may see an increase of Rs1.12 per litre.
Additionally, kerosene may rise by Rs4.16 and light diesel oil by Rs4.13 per litre.
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Express Tribune
a day ago
- Express Tribune
Govt hits the brakes on fuel prices, cuts Rs8 a litre
Listen to article The government on Thursday slashed the price of petrol by Rs7.54 per litre while raising that of high-speed diesel (HSD) by Rs1.48 per litre for the next fortnight. The HSD price increase will come into effect from August 1, 2025. However, it has reduced the price of petrol for the next fortnight that will remain effective till August 15. The finance ministry in a statement said that the Government of Pakistan's Finance Division has announced new petroleum product prices that will be effective from August 1, 2025. It said that the price changes were determined after reviewing international market trends and considering recommendations from Oil and Gas Regulatory Authority (OGRA) and other relevant ministries. According to statement, the price of HSD has witnessed an increase of Rs1.48 per litre, bringing the new price to Rs285.83. The existing price was Rs284.35 per liter. The government has decreased the price of petrol by Rs7.54 per litre. The petrol will be available now at the new price of Rs264.61 per litre. The previous price was Rs272.15 per litre. These revised prices will be in effect for the next fortnight. Earlier, consumers had witnessed a massive increase in the prices of petroleum products as government had increased the price of HSD by Rs10.39 per litre effective from July 1, 2025. The high speed diesel is widely used in the agriculture and transport sectors. Therefore, fresh increase in its price will bring inflationary impact for the consumers. The farmers use this fuel for tractors whereas transport sector also use it. Therefore, the cost of transport goods would go up, resulting in higher inflation across the country. The government has also raised the price of petrol by Rs8.36 per litre from July 1. Petrol is used in motorbikes and cars and is considered to be an alternate of the compressed natural gas (CNG). The gas utilities had stopped supply of indigenous gas to the CNG stations especially in Punjab province and therefore, these CNG outlets had been using imported gas over a decade. The recent reduction in price of petrol is a big relief for the motorbikes and cars. Pakistan is a net importer of oil and import around 85 per cent of total petroleum products to meet the domestic needs. The local oil and gas exploration companies produce crude oil to meet 15 per cent of the total oil needs. Therefore, the fluctuation in global oil prices also impact the domestic oil prices. The consumers are also paying higher tax in form of petroleum levy on the petroleum are paying over Rs77 per litre petroleum levy on diesel and petrol. LPG Prices The Oil and Gas Regulatory Authority (OGRA) has also significantly reduced the price of Liquefied Petroleum Gas (LPG) for the month of August 2025 to provide relief to consumers amid ongoing inflationary pressures. According to the latest notification issued by the Authority, the regulator has set a new consumer price of LPG at Rs2,541.36 for an 11.8 kg domestic cylinder effective from August 1, 2025 with a reduction of Rs209.24 or 7.6 per cent compared to July's rate of Rs2,750.60. The producer LPG price has also been reduced from Rs191,802.01 per ton in July to Rs174,069.26 per ton in August, reflecting a similar decrease of Rs17,732.75. The decline translates to a Rs17.73 per kg reduction in LPG consumer price. OGRA stated that the price cut primarily results from a 9.8pc decline in the Saudi Aramco Contract Price (CP), which serves as a benchmark for local LPG pricing. Although the average exchange rate of the US dollar recorded a marginal increase of 0.38% during the same period, it was not enough to offset the downward trend in international LPG prices.


Business Recorder
a day ago
- Business Recorder
Petrol price cut by Rs7.54, HSD's up by Rs1.48
ISLAMABAD: Federal government announced Rs 1.48 per litre increase in high-speed diesel (HSD) prices, despite the premium on HSD remaining stable at $3.20 per barrel. However, there is a significant relief for petrol consumers as the ex-depot petrol price has reduced by Rs 7.54 per litre, driven by a decrease of approximately $3 per barrel in global prices. The decision has been taken in fortnightly review with effect from August 1, 2025. The new price of HSD has been increased from Rs 284.35 to Rs 285.83 per litre and petrol price has come down from Rs 272.15 to Rs 264.61 per litre. Finance Division stated, 'Following a review of prevailing international market trends and upon the recommendations of OGRA and relevant ministries, the government has revised the prices of petroleum products for the next fortnight'. In the previous fortnight, the price of petrol increased by Rs5.36 per litre, while the price of HSD rose by Rs11.37 per litre. Copyright Business Recorder, 2025


Business Recorder
a day ago
- Business Recorder
PM commends Leghari for power sector reforms
ISLAMABAD: Prime Minister, Shehbaz Sharif has applauded Minister for Power, Sardar Awais Leghari and Secretary Power, Dr Fakhre Alam Irfan for their outstanding performance in steering the government's reform agenda in the power sector through a particularly challenging period. In appreciation letters to both the top men of Power Division, the prime minister stated that the reduction of Rs 780 billion in circular debt, bringing the overall stock down to Rs 1,614 billion, was indeed a Herculean task made possible through 'your persistent effort and effective collaboration across institutions.' 'The successful renegotiation of Power Purchase Agreements (PPAs) with more than 35 Independent Power Producers (IPPs), including the termination of six contracts, is a historic intervention. These efforts have resulted in savings of approximately Rs 3.6 trillion for the national exchequer,' stated the letter. The prime minister further stated that the overall tariff reduction of Rs 8.35 per unit compared to the previous year has delivered tangible relief to power consumers, not only easing the burden on households but also invigorating industrial demand, with lasting impacts across multiple sectors of the economy. The introduction of people-centric initiatives such as 'Apna Meter, Apni Reading' exemplifies a responsive and modern approach to governance that will help reshape public trust in the power sector. 'I congratulate you and your team on these commendable strides, and I trust that your continued efforts will further strengthen Pakistan's energy security and economic resilience,' the prime minister added. Copyright Business Recorder, 2025