Pakistan cuts petrol and diesel prices by 3.40 and 7.76 rupees per litre — Dawn

In Pakistan, the government has reduced the retail price of petrol by 3.40 Pakistani rupees per litre and that of high-speed diesel (HSD) by 7.76 rupees. From November 3, petrol will cost 374.51 rupees per litre and diesel fuel 395.20 rupees, Dawn reports, citing a notification by Pakistan’s Oil and Gas Regulatory Authority (Ogra).

New compensation scheme

According to the government, the price cuts became possible thanks to a new agreement with oil refineries. The authorities said that the companies will bear costs of around 15 billion rupees per month. The government expects this to make it possible to sell petrol at 15 rupees per litre below global prices amid the US and Israeli war against Iran.

Oil Minister Ali Pervaiz Malik said at a press conference in Islamabad that refineries had increased processing volumes and profited from this over the previous three months. According to him, the government asked the companies to support the population during a period of high fuel prices.

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Fuel price fluctuations

The price of HSD has fallen from a peak of 520.35 rupees per litre recorded on April 3. On the same day, petrol cost 458.41 rupees per litre, its highest level in 2026. After the start of the US-Iran war on February 28, diesel began rising from about 281 rupees per litre, while petrol increased from 266 rupees in the first week of March.

On July 17, the oil minister said that the government and the prime minister had instructed Ogra to set fuel prices daily, taking into account international market trends. Previously, the government reviewed prices weekly. In Pakistan, petrol is mainly used in private transport, small cars, rickshaws and two-wheeled vehicles, while diesel fuel is used in heavy transport, at power plants and in large generators.