Pakistan, on its 79th Independence Day on August 14, has announced a fresh spike in fuel prices, raising the cost of both petrol and diesel with immediate effect. The revised rates were notified by the Ministry of Energy (Petroleum Division) on recommendations from the Oil and Gas Regulatory Authority (OGRA).

According to the notification, the price of petrol has been increased by Re 0.45 per litre, from Rs 324.98 to Rs 325.43 per litre.

The price of High-Speed Diesel has gone up by Rs 1.16 per litre, increasing from Rs 382.79 to Rs 383.95 per litre. The revised ex-depot prices came into effect on August 14.

The increase comes under Pakistan’s revised petroleum pricing mechanism, under which OGRA now determines and announces fuel prices on a daily basis.

The system was introduced in July amid volatility in international oil markets triggered by geopolitical tensions in the Middle East and concerns over global energy supplies.

Pakistan’s Petroleum Minister Ali Pervaiz Malik has previously stated that daily pricing is based on a seven-day average of international oil prices and is intended to ensure that global market fluctuations are passed on more quickly to domestic consumers.

The latest hike, though modest compared to the steep increases witnessed earlier this year, is expected to add to the burden on consumers already grappling with high living costs.

Petrol is primarily used by private vehicle owners, motorcyclists and rickshaw operators, while diesel fuels heavy transport vehicles, agriculture machinery and generators, making it a key component of transportation and logistics costs.

Pakistan has witnessed significant fuel price volatility in 2026. In March and April, the government implemented sharp increases in petroleum prices following a surge in global crude oil rates linked to the Middle East conflict.

At one point in April, petrol prices crossed Rs 458 per litre and diesel exceeded Rs 520 per litre before easing in subsequent months.

The government continues to collect substantial taxes and levies on petroleum products, with reports indicating that duties and taxes account for over Rs 100 per litre on both petrol and diesel.