Petrol price cut by Rs7.06, HSD’s by Rs3.71

Petrol will cost Rs362 per litre from November 5 after a reduction of Rs7.06, while High-Speed Diesel (HSD) is priced at Rs387.81 following a Rs3.71 cut. Business Recorder reported that OGRA announced lower ex-depot rates for both fuels, with the earlier HSD price at Rs391.52 per litre.

The report linked the HSD adjustment to weaker international pricing, including a fall in its global crack spread from USD41.89 to USD38.00 per barrel. Petrol’s international benchmark moved down to USD111.45 per barrel from USD115.49, while HSD’s benchmark declined to USD110.08 from USD112.20. The government also said refineries would absorb a cumulative Rs15 billion contribution towards the petroleum levy under a 30-day pricing arrangement, enabling a Rs14.71 per litre reduction in petrol at the consumer end. The petroleum and climate support levies remain Rs80 and Rs5 per litre, respectively, for both fuels.