Goals from Craig Stanley and Stewart Drummond looked to have given the home side a winning start after Pugh had fired the Bulls in front in the first period.
Bulls keeper Adam Bartlett had to show his talents with a couple of fine early saves to deny Ian Craney and Phil Jevons, while Hereford's Leon Constantine drew the best out of home stopper Barry Roche with a fierce drive.
It was the visitors who took the lead six minutes before the break with a fine long-range strike from Pugh, but Bulls old-boy Stanley levelled with a cracking drive just three minutes later, which he celebrated with enthusiasm in front of the United fans.
Pugh drilled a shot just over but the home side started the second period well and were rewarded when Drummond rose to head in a Mark Duffy cross after 57 minutes.
But Pugh was not to be denied and rifled in an equaliser with only seconds of normal time remaining.