The True Post | Muhammad irfanUllah
(ISLAMABAD) The Government of Pakistan is expected to announce new petroleum prices today, with reports suggesting a significant increase in fuel costs due to rising global crude oil prices.
According to industry sources, petrol could become up to Rs10 per litre more expensive, while high-speed diesel (HSD) may see an increase of up to Rs40 per litre under the new fortnightly pricing review, which is expected to take effect on July 18, 2026.
The anticipated price hike follows a recent surge in international crude oil prices, largely driven by escalating geopolitical tensions between Iran and the United States. As Pakistan relies heavily on imported petroleum products, fluctuations in global oil markets continue to have a direct impact on domestic fuel prices.
Reports indicate that the government is also considering a reduction in the Petroleum Levy to cushion consumers from the full impact of rising international oil prices. However, no final decision had been announced at the time of publication.
Meanwhile, authorities have vowed to crack down on fuel hoarding and artificial shortages across the country. The National Committee on Monitoring and Coordination has instructed the Oil and Gas Regulatory Authority (OGRA) to take strict legal action against individuals and businesses found stockpiling petroleum products.
Government officials said all necessary measures are being taken to ensure an uninterrupted supply of fuel nationwide and to prevent panic buying or supply disruptions following the expected price adjustment.
Economic analysts note that continued volatility in global energy markets presents a major challenge for oil-importing countries like Pakistan. They argue that long-term energy security will require greater investment in alternative energy sources, improved domestic energy policies, and reduced dependence on imported fuel.
The official fuel prices are expected to be announced later today and will determine the rates applicable for the next two-week pricing period.
