The federal government on Tuesday increased the prices of petroleum products for July 22, raising the price of petrol by Rs4.93 per litre and high-speed diesel (HSD) by Rs7.15 per litre under the newly introduced daily pricing mechanism.

According to a notification issued by the Ministry of Energy (Petroleum Division), the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices in line with the government’s new fuel pricing framework.

Following the latest revision, the price of petrol has increased from Rs315.80 to Rs320.73 per litre, while high-speed diesel has risen from Rs360.06 to Rs367.21 per litre.

The latest increase comes a day after another upward revision in fuel prices, taking the cumulative increase in the price of high-speed diesel to Rs12.86 per litre over the past two days.

The revised prices have taken effect immediately.

The government last week replaced the weekly petroleum pricing system with a daily mechanism, authorising OGRA to determine petrol and diesel prices based on a rolling seven-day average of international oil prices.

The move was introduced to enable faster adjustments to fluctuations in global energy markets.

The latest increase is expected to raise transportation and logistics costs, as high-speed diesel is widely used by the freight, agriculture and industrial sectors, while the higher petrol price will directly impact motorists across the country.