The Pakistan government on Friday reduced the price of petrol by Rs2 per litre, bringing the new rate to Rs330 per litre. The price of high-speed diesel (HSD) remains unchanged at Rs360 per litre. These new prices will be effective from Saturday, November 14, until Monday, November 16, 2026.
The Oil and Gas Regulatory Authority (OGRA) stated in a press release that these prices were calculated under the petroleum products pricing mechanism approved by the federal government. This marks the ninth consecutive decrease in the price of petrol.
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. According to the government, an arrangement announced on November 2 for a period of 30 days allows oil refineries to contribute to the petroleum levy by bearing a cumulative impact of Rs15 billion. This specific arrangement allows for a Rs14.71 reduction in the petrol price for consumers.
On Thursday, the government had previously reduced the price of petrol by Rs3 to Rs332 per litre and HSD by Rs4 to Rs360 per litre. On a weekly basis, the petrol price saw a decrease of 4.6% or Rs16 from the Rs346 per litre rate announced last Friday. Similarly, the diesel price saw a decline of 4.8% or Rs18 from Rs378 per litre.
The government has been revising fuel prices on a near-daily basis since July 17 due to international market fluctuations following hostilities between Iran and the US. The petroleum minister stated that the cabinet and the prime minister had decided to give OGRA the responsibility of deciding fuel prices on a daily basis based on international market trends.
To address rising fuel prices caused by the Middle East situation, the government rolled out the Prime Minister’s Fuel Relief Scheme on September 17. This subsidy scheme applies to owners of motorcycles, rickshaws, and vehicles of up to 800cc. Additionally, the government has reintroduced austerity measures, including requiring markets to close by 9pm and cutting fuel allocations for official vehicles by 50pc for three months.
Historical data shows that HSD prices reached a peak of Rs520.35 on April 3, having risen from Rs281 per litre after the US-Iran war broke out on February 28. Petrol prices peaked at Rs458.41 on April 3 after rising from Rs266 in the first week of March.
