Govt cuts petrol price by Rs2.71, diesel by Re0.03 per litre

Business Recorder reported that the government cut petrol rates by Rs2.71 on Tuesday, bringing the price down to Rs392.66 per litre. High-speed diesel (HSD) was reduced by Re0.03 to Rs396.82 per litre, and both new rates take effect from Wednesday, October 14, 2026.

The Oil and Gas Regulatory Authority revised ex-depot prices under the federal petroleum pricing mechanism, based on a Petroleum Division press release. The division linked the change to international factors, citing Platts rates, premiums and incidental charges. Petrol had stood at Rs395.37 per litre and HSD at Rs396.85 per litre before the revision.

Oil prices also eased on Tuesday, with Brent crude futures sliding 1.89 per cent to $104.63 a barrel by 1049 GMT. The benchmark had climbed nearly $2 a barrel in the previous session and settled at its highest since September 15, amid attacks on Saudi Arabia and prospects of extra diesel supply from Russia.