The federal government has officially implemented its first daily petroleum pricing mechanism, replacing the fortnightly review system to ensure changes in international oil prices are passed on to consumers without delay.

As part of the first revision under the new mechanism, the government has increased the price of petrol by Rs. 5 per litre and high-speed diesel by Rs. 30 per litre.

Under the new system, petrol and high-speed diesel prices will now be revised and announced every day, allowing domestic fuel prices to reflect movements in global oil markets on a real-time basis.

Officials said the move is intended to eliminate delays in adjusting domestic fuel prices and ensure that fluctuations in international petroleum prices are immediately reflected in the local market.

Previously, the government reviewed petroleum prices every 15 days. The shift to daily pricing marks one of the biggest changes to Pakistan’s fuel pricing mechanism in recent years.

The revised prices will take effect in accordance with the government’s official notification.