Raising the price of petrol to Rs 335.81. per liter and HSD at Rs 388.38.
People on their motorbikes wait their turn to get fuel at a gas station, hours before fuel prices are raised in Pakistan, amid the US-Israel conflict with Iran, in Karachi, Pakistan, April 30, 2026. Photo taken with a mobile phone. Reuters
The federal government on Tuesday hiked the prices of petrol and high-speed diesel (HSD) by Rs1.63 and Rs1.55 per litre, respectively, a day after reducing petrol price.
According to a release from the Ministry of Petroleum, the price of petrol has been fixed at Rs 335.81. per liter while HSD will now cost Rs 388.38. per liter with effect from 29 July.
The latest revision comes a day after the government cut the price of petrol by Re1 per liter while increasing the price of high-speed diesel by Rs3.37 per litre.
Read: Govt cuts petrol price by Re1, hikes HSD price by Rs 3.37. for July 28
On July 17, the government introduced a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East.
The daily fuel prices are based on a seven-day average of international market prices to conform to international standards.
Oil prices rose to $100 per barrel. barrel for the first time since May last week on July 23, major tech giants hammered US stocks and Europe’s borrowing costs rose to long-term highs in a worrisome day across markets.
Brent crude rose 6% to $100.50 a barrel. barrel following attacks on tankers in the Red Sea that choked off another crucial Middle Eastern artery for global oil supplies alongside Iran’s near-closure of the Strait of Hormuz. It was the first time the international oil benchmark had hit that level since late May, as the war between the US and Iran has heated up again.
