Petrol price cut by 66 paisa, diesel rises 52 paisa per litre
“New rates remain effective till October 12ISLAMABAD (Dunya News) – The federal government has reduced the price of petrol by 66 paisa per litre while increasing…”
Following the revision, petrol will cost Rs398.30 per litre, down from Rs398.96, while high-speed diesel will be priced at Rs396.24 per litre, up from Rs395.72. 's notification, the revised rates will remain effective from October 10 to 12, 2026.
The adjustment comes amid volatility in international oil markets and a shift towards more frequent reviews of domestic fuel prices. Daily price reviews. The government has introduced a daily petroleum price review mechanism to respond more quickly to fluctuations in global oil prices.
Under the framework, the Oil and Gas Regulatory Authority (OGRA) will determine daily ex-depot prices for petrol and high-speed diesel using the average international market rates recorded over the preceding seven days. Petroleum Minister Ali Pervaiz Malik said the daily calculations would be based on a seven-day average of international prices, in line with international practices.
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OGRA has also started publishing daily petroleum prices on its website, with the stated aim of improving transparency and enabling changes in international markets to be reflected more promptly in local rates. The regulator can announce revised prices without obtaining prior approval from the prime minister or the federal government for each adjustment.
However, prices notified on Fridays will remain unchanged over the weekend. The move towards daily pricing follows fluctuations in global oil markets amid renewed hostilities in the Middle East and concerns over energy supplies. The government had shifted to weekly fuel price reviews after the conflict involving Iran, Israel and the United States began on February 28.
Previously, petroleum prices were generally revised every fortnight. Tensions surrounding the Strait of Hormuz have added to uncertainty in energy markets. Before the conflict, the strategic waterway carried around one-fifth of global oil and other energy supplies, making disruptions a major concern for international markets.
Under the revised framework, OGRA is required to publish daily Platts reference prices. The mechanism also places limits on petroleum levy adjustments: the levy cannot exceed the ceiling approved by the federal cabinet, while changes to its rate require approval from the Finance Division.
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