Govt Cuts Petrol Price to Rs352.59 Per Litre, Diesel Drops to Rs382.25

Islamabad: Govt cuts petrol price by Rs9.41 per litre, giving some relief to car and bike owners across Pakistan. The new rate is Rs352.59 per litre.

The government also cut high-speed diesel (HSD) by Rs5.56 per litre. Diesel will now sell at Rs382.25 per litre.

The Oil and Gas Regulatory Authority (OGRA) said these prices will stay in force for November 6 only.

Before this cut, petrol cost Rs362.00 per litre. Diesel was priced at Rs387.81 per litre.

OGRA has also started to post daily fuel prices on its website. This step aims to bring more openness and to pass on global oil price changes to buyers faster.

The government chose a daily review because oil markets are very unstable. Fresh fighting in the Middle East has added to the worry.

The conflict began on February 28, when Israel and the United States attacked Iran. Tehran then closed the Strait of Hormuz, a key route for about one fifth of the world’s energy supply.

After that, Pakistan moved from fortnightly to weekly price reviews. A shaky truce in June has since fallen apart, which raised fears of a wider war.

How the new petrol pricing works:

The federal cabinet approved a new pricing method on October 30. It uses the real import cost of the PSO cargo to set the import price.

If that cost is not available, the premium, incidentals and customs duty from the last cargo will be used.

For local refineries, the government has fixed these charges at the March 7, 2026 level for 30 days.

Refineries must give the gap between the import price and the ex-refinery price to the petroleum levy account. The benefit then goes to buyers through a lower petrol price.

The government has also added a short-term step to keep prices steady. It passes on a premium gain at $2.950 per barrel per day.