Petrol will stay unchanged at Rs377.91 per litre for the next three days, but high-speed diesel (HSD) is up again — rising by Rs2.29 to Rs402.96 per litre, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA) late on Thursday. The new rates take effect from October 31 and remain in force until November 2, 2026.
It is the second diesel hike in less than a week. Diesel had already climbed to Rs400.67 per litre earlier this week, up from Rs398.07 on October 28, as PakDaily reported at the time. Petrol, meanwhile, has held close to the Rs376–378 range over the same stretch, with the government choosing to absorb most of the recent pressure on the diesel side rather than passing it on across the board.
The latest adjustment comes under Pakistan’s new daily fuel-pricing mechanism, which replaced the old fortnightly review system earlier this year as regional instability kept international oil markets volatile. Under the formula, OGRA sets ex-depot prices each day based on a seven-day rolling average of international product prices, rather than waiting for a fixed 15-day cycle. Petroleum Minister Ali Pervaiz Malik has told parliament the system was adopted to keep domestic prices closer to the global market in real time, secure uninterrupted fuel supplies since Pakistan imports virtually all of its oil, and discourage hoarding and profiteering during periods of sharp price swings, according to the Associated Press of Pakistan (APP).
The underlying pressure is coming from abroad. Prices have been trending higher since renewed Middle East tensions rattled energy markets, with Dawn reporting that HSD had earlier spiked as high as Rs520.35 per litre in April before easing back, after starting near Rs281 when hostilities first broke out in late February. Petrol followed a similar arc, peaking at Rs458.41 in April after beginning March around Rs266. Compared with those highs, both fuels remain well off their peaks, but the latest uptick shows how quickly the daily mechanism can pass fresh volatility straight through to the pump.
On the tax side, the government currently levies a petroleum levy of Rs114 per litre on petrol and Rs100 per litre on diesel, figures that have stayed untouched in this review even as the base price moved. The levy remains a political flashpoint: Jamaat-i-Islami has renewed its demand for the levy to be scrapped altogether, with the party’s chief threatening a march on Islamabad in mid-November if the government does not announce major relief for consumers before then.
| Fuel | Previous Price (Oct 28) | Price Before This Revision | New Price (Oct 31–Nov 2) | Change | Petroleum Levy |
|---|---|---|---|---|---|
| Petrol | Rs376.06 / litre | Rs377.91 / litre | Rs377.91 / litre | Unchanged | Rs114 / litre |
| High-Speed Diesel (HSD) | Rs398.07 / litre | Rs400.67 / litre | Rs402.96 / litre | +Rs2.29 | Rs100 / litre |
For a motorcycle or small car owner filling up a 10-litre tank, the petrol bill is effectively frozen this cycle. But for transporters, logistics firms and the agriculture sector — all heavily reliant on diesel for trucks, tractors and generators — the repeated increases add up quickly, and are likely to keep upward pressure on freight and food transport costs in the coming weeks if the trend continues.
