The Pakistani government has announced an increase in fuel prices for the next three days. The Pakistan fuel prices revision took effect at midnight on July 18 and will remain in force until July 20. Officials said the increase follows higher global crude oil prices amid rising regional tensions.

According to a notification issued by the Petroleum Division, the price of high-speed diesel has increased by Rs31.05 per litre. The new diesel price now stands at Rs354.35 per litre.

The government also raised the price of petrol by Rs5.44 per litre. As a result, the new petrol price has reached Rs316.15 per litre. The revised rates became effective immediately after midnight on July 18.

The Petroleum Division said the new prices will remain applicable until July 20. The announcement follows the government’s recent decision to review petroleum prices on a daily basis instead of using a longer pricing cycle.

Speaking at a press conference alongside Information Minister Ataullah Tarar, Petroleum Minister Ali Pervaiz Malik said rising regional tensions had pushed global crude oil prices higher. He added that many countries were also experiencing increasing energy costs because of changes in the international oil market.

Ali Pervaiz Malik said the government is moving toward the deregulation of petroleum products. He explained that Prime Minister Shehbaz Sharif and the federal cabinet had approved the new pricing mechanism to improve market responsiveness.

Under the new system, the Oil and Gas Regulatory Authority (OGRA) will determine fuel prices every day. The authority will also publish the updated prices on its official website to keep consumers informed.

The latest Pakistan fuel prices increase marks the beginning of the government’s new daily fuel pricing policy. Officials say the system will allow fuel prices to reflect changes in the international oil market more quickly while providing greater transparency.