Petrol price hiked by 88 paise, HSD’s by 53 paise

Business Recorder reported that the government raised the petrol rate by 88 paise per litre for October 21, taking it to Rs382.02 from Rs381.14. High-speed diesel (HSD) went up by 53 paise, moving from Rs389.27 to Rs389.80 per litre. Both changes came through the daily fuel price review.

The revision reflects global oil market movements over the previous seven days. Average refined petrol prices slipped to USD 120.35 per barrel from USD 121.44 on October 20, while HSD edged up to USD 108.34 from USD 108.02. The earlier fall in diesel prices on October 20 was mainly linked to the HSD crack spread narrowing from USD 41.89 to USD 38.00 per barrel over three months.

According to the Oil and Gas Regulatory Authority (OGRA), the change stems from global factors such as Platts rates, premiums and incidentals. A Petroleum Division notification said levies and profit margins stayed largely steady, with a Rs80 per litre petroleum levy and a Rs5 per litre Climate Support Levy. Petrol's import cost climbed to Rs271.28 from Rs270.40 per litre, while HSD's rose to Rs282.24 from Rs281.71 per litre.