ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Monday slashed petrol price by 35 paisa per litre, taking the new retail price to Rs315.80 per litre while high-speed diesel (HSD) jumped by Rs5.71 per litre, pushing the new rate to Rs360.06 per litre.
The regulator updates petroleum products prices for July 21, 2026 on its website.
According to the Ministry of Energy’s Petroleum Division, domestic petroleum prices will now be linked directly to international crude oil movements, Platts Arab Gulf Assessments, and the actual cost of importing fuel into Pakistan.
READ MORE: Petrol price surges by Rs5.44, HSD’s by Rs31.05
Under the new policy, revised prices for petrol, high-speed diesel, and other petroleum products will be announced every Monday through Friday, while rates will remain unchanged over the weekend to maintain market stability.
Despite the automated pricing model, the federal government will continue to control major fiscal components, including the Petroleum Levy (PL), customs duty, climate levy, and Oil Marketing Companies’ (OMCs) margins. Any changes to these charges will still require government approval, with Ogra having no authority to modify them independently.
The government had introduced a weekly fuel price review system after the conflict in the Middle East began on February 28, when Israel and the United States attacked Iran, leading Tehran to shut the Strait of Hormuz — the main route before the war for around a fifth of global energy supplies.
Copyright Business Recorder, 2026
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