Pakistan's OGRA raises petrol price by Rs4.93 to Rs320.73 per litre effective July 22, a day after pump owners began a strike
Pakistan's Oil and Gas Regulatory Authority raised petrol prices by Rs4.93 to Rs320.73 per litre and high-speed diesel by Rs7.15 to Rs367.21 per litre effective July 22, the latest fortnightly revision announced on July 21, coming a day after the country's petrol pump owners launched a nationwide strike over a separate dispute about the pricing adjustment mechanism
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Summary
Pakistan's OGRA announced fortnightly fuel price revisions effective July 22: petrol rises Rs4.93 to Rs320.73 per litre, high-speed diesel rises Rs7.15 to Rs367.21. The announcement landed one day after Pakistan's petrol pump owners launched a nationwide strike, rejecting a proposed daily price adjustment mechanism and demanding the government abandon it. OGRA revised prices anyway, proceeding with the adjustment that prompted the pump strike. The increase is attributed to the international oil market and the pass-through of the Hormuz-linked supply disruption; Pakistan imports nearly all its refined fuel. Radio Pakistan's state broadcaster described the move as a routine revision.
Why it matters
Pakistan's inflation has run above 20% for much of the past year, and fuel is a direct input into food transport and power generation. A continued standoff between pump owners and the government risks a distribution breakdown: petrol stations refusing to open because of the dispute alongside higher prices is a compounding squeeze on households. The Iran-Hormuz conflict has been pushing up Asian import prices since July.
What to watch
- Whether pump owners extend or end the strike after the OGRA announcement ignores their demands
- OGRA's next fortnightly revision on August 1 and the direction of global crude prices
- Whether the government offers any compensation or subsidy to offset the consumer impact