Petrol Prices: Government Cuts Fuel Rates by Rs7.06 Per Litre

The federal government has reduced petrol prices by Rs7.06 per litre and high-speed diesel (HSD) by Rs3.71 per litre, providing further relief to consumers under its petroleum pricing mechanism.

According to a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Wednesday, the ex-depot price of petrol has fallen from Rs369.06 to Rs362 per litre. The price of high-speed diesel has also decreased from Rs391.52 to Rs387.81 per litre.

The revised rates take effect from November 5, 2026, under the petroleum pricing mechanism approved by the federal government.

The latest adjustment follows another reduction announced on Tuesday, when the government cut petrol prices by Rs5.45 per litre and diesel prices by Rs3.68 per litre. Those revisions brought petrol to Rs369.06 and diesel to Rs391.52 per litre.

With both adjustments, petrol prices have declined by a cumulative Rs12.51 per litre, while diesel has become Rs7.39 cheaper over the two consecutive revisions.

The cuts come amid fluctuations in international oil markets, where crude prices declined on Wednesday as investors assessed developments surrounding the US-Israeli war on Iran and the outcome of the US midterm elections.

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Brent crude futures fell $1.75 to $101.85 per barrel at 1034 GMT, while US West Texas Intermediate (WTI) crude dropped $1.18 to $94.91 per barrel.

Global oil markets remain sensitive to geopolitical developments and their potential impact on energy supplies.

The reduction in petrol prices is expected to offer some relief to motorists and households. Lower diesel costs could also ease operating expenses for transporters, farmers and businesses that rely on diesel-powered machinery.

However, future changes in domestic fuel prices will depend on movements in international oil markets and subsequent adjustments under the government’s petroleum pricing mechanism.