Islamabad: the government has announced new prices of petroleum products for July 23, 2026, with both petrol and high-speed diesel getting a hike. New prices will only be effective from 23rd July.
According to the notification issued, the price of petrol has been increased by Rs 6.39 per litre, after which the new price has been fixed at Rs 327.12 per litre.
Likewise, the cost of High Speed Diesel (HSD) has also been pushed up by Rs 7.83 per litre. The new price of diesel is now at Rs 375.4 per litre after the hike.
The announcement issued by the government has said that these prices will be effective for July 23, 2026.
Due to the recent regional scenario and volatility of oil prices in the international market, the government has opted to reassess the prices of petroleum products on a daily basis, officials said.
Under this policy, the Oil and Gas Regulatory Authority (OGRA) is not required to seek government approval or the Prime Minister’s approval and will set prices, the previous prices will be reviewed on Saturdays and Sundays.
It can be recalled that on July 21, the price of petrol was reduced by 35 paise per liter, while that of diesel was raised by Rs 5.71 per liter. Then petrol was hiked up by Rs 4.93 per litre and diesel by Rs 7.15 per litre for July 22.
After the third consecutive day of price changes, consumers and transport sector stakeholders will continue to closely monitor global oil prices and government policy in the coming days.
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