Govt Slashes Petrol Price by Rs3 and Diesel by Rs4 Per Litre

ISLAMABAD: The federal government slashes petrol price by Rs3 per litre on Thursday. It also cut the rate of high-speed diesel (HSD) by Rs4 per litre.

After this change, petrol will cost Rs332 per litre. Diesel will now sell at Rs360 per litre.

The Oil and Gas Regulatory Authority (Ogra) said the new prices will apply from November 13.

Daily Price Review Begins

Ogra has started to publish fuel prices every day on its website. The step aims to bring more clarity for the public.

It will also help pass on changes in global oil rates to buyers much faster.

The government chose this daily system because world oil prices keep moving. New fighting in the Middle East has made the market unstable.

How the System Changed

The conflict began on February 28, when Israel and the United States attacked Iran. Tehran then closed the Strait of Hormuz. Before the war, about one fifth of the world’s energy supply passed through this route.

After that, Pakistan moved from fortnightly pricing to a weekly review. Now it has moved to a daily one.

A fragile truce between Tehran and Washington in June has since fallen apart. This has raised fears of a bigger war and trouble for energy supply.

New Petrol Pricing Formula

The federal cabinet approved a new pricing method on October 30.

The import price of petrol will depend on the real cost of the relevant PSO cargo. If that cost is not available for daily pricing, the last known cargo details will be used.

For local refineries, the government has fixed some cost items at their March 7, 2026 levels for 30 days. These include premium, incidentals and customs duty.

Refineries must give the difference between the import price and the ex-refinery price to the petroleum levy account. The benefit will then go to consumers through a lower petrol price.

The government has also added a short-term step to keep pr