The daily formula used in the determination of the prices of petroleum in Pakistan has seen yet another increase in the price of fuel, where there has been an increase in the price of petrol by Rs4.40 to Rs331.52 and high-speed diesel increased by Rs3.62 to Rs378.66. Pakistan petrol diesel price July 24 2026 update by the Petroleum Division is yet another daily increase due to international crude oil pressure.
However, the total rise in fuel prices after the adoption of this system is considerable – with diesel increasing from Rs309.50 prior to the implementation of this system to Rs378.66 at present, a rise of Rs70 per liter in a matter of weeks.
Rapid Evolution of the Pricing System
With each step, the speed of price revision became faster owing to increased volatility in the international oil market the system for pricing the Pakistan petrol diesel price July 24 2026 is revised hourly according to the OGRA seven-day average price assessment of Platts Arab Gulf, which does not need government or PM approval.
Petroleum Dealers in Opposition, but Now Backing Off
Pakistan petrol diesel price July 24 2026 increases come amidst threats of a national strike by petroleum dealers on account of daily pricing system, a strike which was later called off after consultations between government and dealers.
Ali Pervaiz Malik, minister for petroleum, assured the dealers that their complaints about the daily pricing system will be taken up within two weeks. The demands of the dealers include:
Abolition of the daily price system: dealers claim that the daily price change disrupts operations at the pump
Increasing dealer profit from the existing fixed amount of Rs8 per litre to 8 percent of the price of petrol: for example, if one litre costs Rs378.66, then 8 percent of this will be Rs30 compared to the current fixed Rs8, a nearly threefold increase in dealer profit
Abolishing the 0.8 percent discount on credit card transactions: dealers claim that this discount reduces thin margins.
An increase of Rs69 per litre in the price of diesel since the inception of the ongoing crisis is not a small change. It translates into an increase of 22% in the cost for each truck, bus, tractor, generator and other diesel-consuming industries in Pakistan, initially borne by the transporters and freight companies and later included in the cost paid by consumers in Pakistan for their basic necessities in days. Pakistan petrol diesel price July 24 2026 increase is likely to cause an extra burden on the consumers.
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What Happens Next
The future of the Pakistan petrol diesel price on July 24 2026 depends completely on the international prices of crude oil – and particularly, whether the war between the US and Iran results in an eventual ceasefire, or whether the situation escalates to become one whereby Strait of Hormuz maritime traffic is increasingly disrupted.
Given the current price of Brent at over $90, and bearing in mind that the OGRA of Pakistan calculates petrol diesel prices using the seven-day rolling average, every day that the price of crude remains high will keep the prices going up.