Petrol will sell for Rs381.14 a litre and high-speed diesel for Rs389.27 a litre across Pakistan from October 20, after the federal government cut both rates in its latest fortnightly fuel price revision. Petrol is down Rs5.16 from the previous Rs386.30, while high-speed diesel (HSD), the fuel that powers most of the country’s trucking and transport fleet, has dropped Rs7.69 from Rs396.96.
The Petroleum Division attributed the cut to “developments in international markets, including changes in Platts rates, premiums and incidental expenses,” with the Oil and Gas Regulatory Authority (OGRA) revising the ex-depot prices under the government’s standard pricing formula. The move tracks a pullback in global crude: Brent, the international benchmark, slipped around 1.6 percent to near $108.14 a barrel at the start of the week as investors booked profits after a rally to multi-month highs, with traders continuing to watch developments in the Middle East and Ukraine, along with US waivers affecting some sanctions and tariffs on Russian oil exports.
| Fuel | Previous Price (per litre) | New Price (per litre) | Change |
|---|---|---|---|
| Petrol | Rs386.30 | Rs381.14 | Down Rs5.16 |
| High-Speed Diesel (HSD) | Rs396.96 | Rs389.27 | Down Rs7.69 |
Petrol is used mainly by motorcycles and cars and feeds directly into household transport costs, while diesel prices have an outsized effect on inflation since it powers freight trucks, buses, trains and agricultural machinery nationwide. A cut of this size offers some relief on both fronts just as the government continues to juggle energy pricing against its revenue needs under the IMF-backed fiscal programme. This follows the October 16 price update, when rates were last revised.
