Pakistan is bracing for a significant increase in petroleum prices starting July 16, 2025, driven by rising global oil market trends. The upcoming fortnightly review is expected to impact fuel costs across the board, adding pressure on consumers amidst economic challenges.
The local oil industry, after analyzing international price trends, has submitted its recommendations to the Oil and Gas Regulatory Authority (OGRA). Petrol prices are projected to rise by Rs6.60 per litre, while high-speed diesel may increase by Rs5.27 per litre. Kerosene oil and light-speed diesel are also expected to see hikes of Rs3.74 and Rs2.32 per litre, respectively. The final prices will be confirmed after approval from Prime Minister Shehbaz Sharif.
The price surge aligns with global oil market dynamics, where Brent crude futures rose to $70.57 per barrel and U.S. West Texas Intermediate crude reached $68.65 per barrel on July 14, 2025. These increases follow a week of gains driven by concerns over potential U.S. sanctions on Russia, which could tighten global supplies, though Saudi Arabia’s increased output and tariff uncertainties have tempered further spikes. The International Energy Agency noted that strong summer demand for travel and power generation is keeping the global oil market tight.
This development is likely to impact transportation, goods, and services in Pakistan, with consumers urged to prepare for higher fuel costs. The government and OGRA are closely monitoring the situation to balance economic stability and global market pressures.
