Islamabad: The federal government reduced the price of petrol by Rs 3.63 per litre while increasing the rate of high speed diesel (HSD) by Rs 0.31 per litre, according to a Petroleum Division notification issued on Thursday, October 15.
Effective Friday, October 16, petrol will cost Rs 390.23 per litre, down from Rs 393.86. High speed diesel rose from Rs 396.65 to Rs 396.96 per litre.
The Oil and Gas Regulatory Authority (OGRA) revised ex depot prices under the government's daily petroleum pricing mechanism.
According to the Petroleum Division, the adjustments reflect developments in international energy markets, including changes to Platts reference prices, premiums and other associated costs.
Petroleum Minister Ali Pervaiz Malik previously explained that the daily pricing system uses a seven day average of international market prices to determine domestic fuel rates.
Under the revised framework, OGRA is authorised to announce daily prices without requiring separate approval from the prime minister or federal government for each adjustment.
Under the approved mechanism, prices notified on Fridays are expected to remain unchanged on Saturdays and Sundays.
Despite the latest reduction, petrol remains subject to Rs 114 per litre in government taxes and duties, while high speed diesel carries Rs 100 per litre.
Petrol is widely used by motorcyclists, private vehicle owners, and rickshaw operators, so price changes particularly affect household transport costs.
High speed diesel is used primarily in commercial transport, agriculture, and electricity generation, so price changes can affect freight and operating costs.
The latest revision comes as Pakistan continues to adjust domestic fuel prices amid volatility in international energy markets.
