ISLAMABAD, July 24: The Oil and Gas Regulatory Authority (OGRA) has increased petrol price and high-speed diesel rate for the fifth consecutive day, according to a notification issued on Friday.
According to the latest notification, the petrol price has been increased by Rs3.66 per litre, taking the new price to Rs335.18 per litre.
The high-speed diesel (HSD) price has also been raised by Rs4.80 per litre, bringing the new rate to Rs383.46 per litre.
The latest revision marks the fifth consecutive increase in fuel prices, adding further pressure on consumers and transport costs.
Earlier, the All Pakistan Petrol Pumps Association had postponed its planned nationwide strike after Petroleum Minister Ali Pervaiz Malik assured dealers that their concerns would be addressed.
Speaking at a joint press conference with the minister, Petrol Pump Owners Association Information Secretary Nadeem Khan said the decision was made after the government promised to resolve the industry’s demands.
“We have been assured that our issues will be addressed, so we are postponing the call to shut down petrol pumps,” Khan said. He added that the long-standing issue of dealer margins was expected to be resolved within the next two weeks.
Petroleum Dealers member Raja Waseem said the government had informed the association that the daily pricing of petrol and diesel was being implemented on a trial basis for 15 days.
He said dealers had been forced to consider a strike after facing prolonged difficulties but welcomed the government’s willingness to hold talks.
“We are thankful to the government and the petroleum minister for listening to us. We hope our issues will be resolved within two weeks,” he said.
Addressing the media, Petroleum Minister Ali Pervaiz Malik said the government was finalising a plan to settle the dealer margin issue and would send a summary to the federal cabinet.
He said both the Ministry of Petroleum and the Oil and Gas Regulatory Authority (OGRA) were committed to resolving the matter as soon as possible.
“If there is no progress, we will sit together again after two weeks,” the minister said.
Ali Pervaiz Malik also said the government had been compelled to increase petroleum prices due to the prevailing situation. He added that OGRA was adjusting fuel prices on a daily basis and pledged that the process would remain transparent and fair.