The Federal Government has officially transitioned to a strategy of adjusting petrol and diesel prices daily. Effective July 17, 2026, the Oil and Gas Regulatory Authority (OGRA) has started revising the ex-depot prices of petroleum products, including petrol and diesel, every 24 hours. The government implemented this drastic measure to shield the local economy from the extreme market volatility.
The newly revised prices show a downward trend for consumers. OGRA has negligibly dropped the price of Motor Spirit (MS), commonly known as petrol. Meanwhile, the rate of High Speed Diesel (HSD) has also seen a minute drop.
| Product | Previous Price (28/08/2026) |
Revised Price (29/08/2026) |
Difference |
|---|---|---|---|
| Motor Spirit (MS) | Rs. 342.60 | Rs. 342.02 | -0.58 |
| High Speed Diesel (HSD) | Rs. 371.61 | Rs. 371.44 | -0.17 |
These daily adjustments will remain unchanged during weekends (Saturdays and Sundays) and public holidays.
This pricing shift directly results from the largest disruption to the world energy supply since the 1970s. The 2026 US-Israel war on Iran triggered a massive global fuel crisis. In late February, Iran blocked shipping traffic through the Strait of Hormuz. This critical maritime chokepoint previously handled about 25% of the world’s seaborne oil trade. Furthermore, the United States retaliated with an extensive naval blockade on Iranian ports.
A temporary ceasefire briefly restored hope in June. However, the truce completely collapsed on July 8 following renewed strikes on commercial vessels. Iran immediately closed the strait again. The US military subsequently launched consecutive rounds of airstrikes to force it open. These relentless crossfires and blockades continue to strangle global oil shipments. Consequently, OGRA must now navigate the crisis with daily adjustments in petrol and diesel prices at the pump.
