Petrol price increases to Rs 335.81 per liter and HSD to Rs 388.38 per liter
People on their motorcycles wait their turn to get fuel at a gas station, hours before fuel prices increase in Pakistan, amid the US-Israel conflict with Iran, in Karachi, Pakistan, on April 30, 2026. Photo taken with a mobile phone. REUTERS
The federal government on Tuesday increased the prices of petrol and high speed diesel (HSD) by Rs 1.63 and Rs 1.55 per liter respectively, a day after reducing the price of petrol.
According to a notification issued by the Ministry of Petroleum, the price of petrol has been fixed at Rs 335.81 per litre, while HSD will now cost Rs 388.38 per liter from July 29.
The latest revision comes a day after the government reduced the price of petrol by Re 1 per litre, while increasing the price of high-speed diesel by Rs 3.37 per litre.
Read: Government reduces petrol price by Re1 and increases HSD price by Rs 3.37 by July 28
On July 17, the government introduced a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East.
Daily fuel prices are based on a seven-day average of international market rates to align with international standards.
Oil prices soared to $100 a barrel for the first time since May last week on July 23, major tech giants sent U.S. stocks tumbling and Europe’s borrowing costs soared to long-term highs on an unsettling day across markets.
Brent crude jumped 6% to $100.50 a barrel following attacks on oil tankers in the Red Sea that choked off a crucial second Middle East artery for global oil supplies along with Iran’s near closure of the Strait of Hormuz. It was the first time the international oil benchmark reached that level since late May, when the war between the United States and Iran has escalated again.
