ISLAMABAD: High-Speed Diesel (HSD) and petrol prices in Pakistan are projected to rise significantly in the upcoming price review on July 18, driven by a sharp increase in global crude oil prices amid the escalating Iran-US conflict.
Preliminary estimates based on international Platts price assessments indicate that HSD could surge by up to Rs. 40 per litre, while petrol prices are expected to rise by approximately Rs. 10 per litre.
While the final figures depend on the remaining day’s global pricing, officials have confirmed the government is actively evaluating a reduction in the petroleum levy to partially absorb the shock for local consumers.
However, the anticipated price hike has already triggered localized fuel shortages. Expecting higher profit margins, some distributors and retail dealers have begun hoarding diesel, leaving several filling stations temporarily dry despite overall national stocks being perfectly adequate.
Following an emergency meeting of the National Committee on Monitoring and Coordination (NCMC)—attended by the Oil and Gas Regulatory Authority (OGRA) and the Oil Companies Advisory Council (OCAC)—officials noted an unusual, massive spike in fuel sales over the first 15 days of July. Regulatory bodies concluded that this demand spike points directly to speculative hoarding rather than actual consumer usage.
In response, the NCMC has directed OGRA and provincial administrations to step up enforcement, conduct strict station inspections, and penalize those hoarding fuel. Oil marketing companies have been ordered to ensure an uninterrupted supply chain across the country to prevent public panic.
