Petrol in Karachi now costs Rs. 342.60 per litre, down by 50 paisa. Diesel dropped to Rs. 371.61 per litre, a cut of 19 paisa. Both new prices took effect from August 28, and the government blamed the small change on ongoing swings in international oil markets.
Pakistan has moved to a daily fuel pricing system. OGRA, the regulator, now sets new petrol and diesel prices each day based on the average international oil price over the past seven days. It no longer needs approval from the Prime Minister or federal government before publishing a new rate.
Petroleum Minister Ali Pervaiz Malik announced this shift last week, saying it brings Pakistan’s pricing closer to how other countries handle fuel costs. One exception: whatever price is set on a Friday stays the same through Saturday and Sunday.
