ISLAMABAD: The federal government on Friday night announced fresh increases in petroleum product prices, even as controversy deepens over its plan to introduce a daily pricing formula rejected outright by petrol pump owners.
According to the Oil and Gas Regulatory Authority (OGRA), the new rates effective from July 18 set petrol (super) at Rs316.15 per litre, up Rs5.44 from Rs310.71, and high‑speed diesel (HSD) at Rs354.35 per litre, a sharp jump of Rs31.05 from Rs323.30. These are the official notified base prices, though retail rates at pumps may vary slightly due to freight and local charges.
The hike comes at a time when the Petroleum Ministry has directed OGRA to prepare for daily revisions, with new rates to be published every night and enforced from midnight. Officials argue the mechanism would align domestic prices more closely with international fluctuations.
But the Petroleum Pumps Association has categorically rejected the proposal, warning that even weekly adjustments have already destabilized stock management and financial planning. “Daily pricing is unacceptable and impractical,” the association said, adding that pump owners were not taken into confidence before the decision.
Economic experts also caution that volatility in global markets, particularly in the Strait of Hormuz, makes daily adjustments risky. “Fuel pricing involves multiple variables including exchange rate movements and levies. Revising them every day could create further instability,” one analyst noted.
For ordinary Pakistanis, the immediate impact is clear: higher transport fares, rising food costs, and mounting frustration that despite government claims of global outreach and fiscal relief, petrol prices remain far above pre‑war levels of February 2022.
