Govt cuts petrol price by Rs1.65, diesel by Rs0.88 per litre

Petrol will sell at an ex-depot price of Rs389.14 per litre after a cut of Rs1.65, while high-speed diesel (HSD) drops by Rs0.88 to Rs424.04. Business Recorder reported that the new rates take effect on September 19 and stay in place through September 21, 2026. The changes follow a press release from the Ministry of Energy's Petroleum Division issued on Friday.

The Oil and Gas Regulatory Authority (OGRA) revised the figures under the petroleum pricing mechanism set by the federal government. Diesel slipped from Rs424.92 to Rs424.04 a litre, while motor spirit fell from Rs390.79 to Rs389.14. The ministry attributed the adjustments to global developments, including movements in Platts rates, premiums and incidentals.

Separately, oil prices declined on Friday as reduced concern over Saudi supply disruptions outweighed worries about a wider conflict in the Middle East. Brent crude slipped 88 cents to $103.94 a barrel, a decline of 0.84%, by 1225 GMT, while West Texas Intermediate was roughly flat at $102.15. Brent is heading for its first weekly decline in three weeks, down 0.8%.