Petrol price cut by 66 paisa, diesel rises by 52 paisa per litre

The federal government has lowered the petrol price by 66 paisa per litre while increasing the rate of high-speed diesel by 52 paisa under a revised pricing schedule effective from October 10 to 12, 2026.

According to a Petroleum Division notification, petrol will now cost Rs398.30 per litre, compared with the previous rate of Rs398.96. High-speed diesel has been increased from Rs395.72 to Rs396.24 per litre.

The latest adjustment comes as Pakistan moves towards more frequent fuel price reviews in response to changes in international oil markets.

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Under the new system, the Oil and Gas Regulatory Authority (OGRA) will calculate daily ex-depot prices for petrol and high-speed diesel using the average international prices recorded over the previous seven days.

Petroleum Minister Ali Pervaiz Malik said the calculations would follow a seven-day average in line with international practices. OGRA has also begun publishing daily petroleum prices on its website to improve transparency and reflect global market movements more promptly.

The regulator can announce price adjustments without seeking separate prior approval from the prime minister or federal government for each revision. However, prices announced on Fridays will remain unchanged during the weekend.

The shift to daily reviews follows fluctuations in global energy markets amid renewed conflict in the Middle East and concerns about the security of oil supplies.

Pakistan had moved from fortnightly to weekly fuel price reviews after the conflict involving Iran, Israel and the United States began on February 28.

Uncertainty has also been heightened by tensions surrounding the Strait of Hormuz, a strategic shipping route that handled around one-fifth of global oil and other energy supplies before the conflict.

Under the revised framework, OGRA is required to publish daily Platts reference prices. The mechanism also restricts changes to the petroleum levy: the levy cannot exceed the ceiling approved by the federal cabinet, while any change to its rate requires approval from the Finance Division.

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