Govt cuts petrol price by Rs3.63, increases diesel's by Re0.31 per litre

Business Recorder reported that the federal government cut the petrol rate by Rs3.63 to Rs390.23 per litre on Thursday. The same decision raised high-speed diesel (HSD) by Re0.31 to Rs396.96 per litre. The revised rates apply from Friday, October 16, 2026.

The Oil and Gas Regulatory Authority (OGRA) revised ex-depot prices under the federal pricing mechanism, according to a Petroleum Division press release. The division linked the adjustment to international developments, citing Platts quotations, premiums and incidentals. Petrol had gone up by Rs1.20 on Wednesday, while diesel had eased by Re0.17 that day.

On Thursday, Brent crude shed more than 1%, trading at $104.91 a barrel at 1157 GMT after a $1.15 or 1.1% decline. Hopes of looser US curbs on Russian shadow fleet tankers eased prices, but strikes on vessels in the Middle East and Ukrainian raids on Russian energy assets limited the drop. US West Texas Intermediate futures edged up 31 cents to $95.40, or 0.3%, amid anticipation of a sizeable drop in weekly inventories.