Petroleum Division

The government increased petrol and HSD prices by Rs3.66 and Rs4.80 per litre, citing global oil price fluctuations and renewed hostilities in the Persian Gulf. New prices take effect on July 25, with petrol at Rs335.18 and HSD at Rs383.46 per litre. Petroleum Minister Ali Pervaiz Malik announced daily fuel price adjustments, a move opposed by the All Pakistan Dealers Association.

The government increased petrol and diesel prices by Rs4.40 and Rs3.62 per litre, citing global oil price fluctuations and renewed hostilities in the Persian Gulf. New prices take effect July 24, with fuel pricing now decided daily by the Oil and Gas Regulatory Authority (Ogra) due to market volatility. The All Pakistan Dealers Association opposes the daily pricing and plans protests.

The government increased petrol prices by Rs4.93 and diesel by Rs7.15 per litre due to Persian Gulf hostilities, with new prices effective July 22. Daily fuel pricing is now in effect, and the All Pakistan Dealers Association plans to protest the decision.

Petrol pump owners in Pakistan announced a nationwide strike after failed negotiations with the government over daily fuel pricing. The All Pakistan Petrol Pumps Owners Association (APPPOA) demanded monthly pricing and increased dealer commissions, citing financial challenges and a flawed pricing mechanism favoring oil companies.

Pakistan State Oil (PSO) will be the sole importer of high-speed diesel (HSD) in FY27, as the government bans private oil marketing companies (OMCs) from HSD imports. Petrol imports by private OMCs are capped based on past sales, while PSO will secure a long-term supply contract with OQ Trading of Oman to ensure fuel security amid the Strait of Hormuz closure. New pricing and supply guidelines are issued to the Oil & Gas Regulatory Authority (Ogra).

The government reduced petrol prices by Rs0.35 per litre and increased diesel prices by Rs5.71 per litre, effective July 21, citing global price fluctuations due to Persian Gulf tensions. Fuel pricing is now determined daily by Ogra based on international markets, a move opposed by the All Pakistan Dealers Association.

The government may reintroduce fuel conservation measures due to rising oil prices and foreign exchange pressures from Middle East hostilities. Petrol and diesel prices will now be revised only on working days, with Ogra publishing detailed calculations online. The government retains control over various levies and duties.

The government increased petrol prices by Rs5.44 and diesel by Rs31.05 per litre for three days starting July 18, citing higher import premiums and global prices due to regional tensions. The Petroleum Minister announced daily fuel pricing adjustments effective immediately, replacing weekly revisions, with the Oil and Gas Regulatory Authority responsible for setting prices based on international market trends.

The government increased petrol prices by Rs13.18 per litre to Rs310.71 and diesel by Rs13.80 to Rs323.30, effective July 11. The hikes follow a rise from Rs281 for diesel and Rs266 for petrol after the US-Iran war began on February 28, with diesel peaking at Rs520.35 and petrol at Rs458.41 in April. IMF conditions led to a doubled climate support levy of Rs5 per litre from July 1, alongside reduced petroleum levies.

The Cabinet Committee on state-owned enterprises rejected a request by Sui Southern and Sui Northern gas utilities for exemption from IFRS-14 and IFRS-9 accounting standards. The Finance Minister directed further deliberations to address concerns about transparency and compliance under the SOEs Act 2023 and IMF requirements.

The government has kept petrol and diesel prices unchanged for the next week, following recent reductions in prices due to declining international oil prices. Prime Minister Shehbaz Sharif had previously announced cuts, but earlier wartime-related price hikes faced public backlash.

The Auditor General of Pakistan's report revealed significant financial irregularities across federal departments, including Rs117.8bn in under-collected super tax by the Federal Board of Revenue, issues in the Petroleum Division, and operational flaws in electricity distribution companies. The report also highlighted encroachments by Pakistan Railways, unauthorized services by the National Telecommunication Corporation, and defense services nearly exhausting their Rs2.2tr allocation.

Pakistan's Petroleum Division assured oil firms that the weekly pricing mechanism would continue, basing future petrol and diesel prices on recent import premiums to minimize losses. Industry leaders criticized frequent policy changes for eroding profitability and deterring foreign investment, while demanding restoration of the pre-war pricing formula.

The government reduced petrol prices by Rs4 per litre and diesel by Rs2 per litre, effective immediately. This marks the fifth consecutive weekly price cut for petrol, with a cumulative decrease of Rs41 per litre, while diesel prices now stand at Rs378.78 per litre. The revisions follow the paused US-Israeli war on Iran and are linked to ongoing tax structures on petroleum products.