Govt cuts petrol price by Rs6.59, diesel by Rs4.25 per litre

The federal government reduced the price of petrol by Rs6.59 per litre to Rs346 and high-speed diesel (HSD) by Rs4.25 per litre to Rs378, effective November 7, 2026.

According to a press release issued by the Oil and Gas Regulatory Authority (OGRA) on Friday, the regulator revised the ex-depot prices of petroleum products under the federal government’s petroleum pricing mechanism.

Petrol was previously priced at Rs352.59 per litre, while diesel at Rs382.25 per litre.

The revised prices will remain effective until November 10, 2026, owing to the public holiday on November 9, OGRA said.

During the week, petrol prices decreased by Rs28.51 per litre, while diesel prices fell by Rs17.20 per litre. On Monday, November 2, petrol was priced at Rs374.51 per litre and diesel at Rs395.20 per litre.

On Thursday, the government reduced the price of petrol by Rs9.41 to Rs352.59 per litre, and high-speed diesel by Rs5.56 to Rs382.25 per litre.

Globally, oil prices were set for a sharp weekly fall after the election losses of US President Donald Trump’s Republican Party raised hopes of a de-escalation in the US-Israeli war on Iran and a stock market sell-off, though attacks on vessels in the Middle East continue to provide a floor to crude.

In a whiplash see-saw session on Friday, Brent crude futures for January were up 31 cents, or 0.3%, to $98.60 a barrel by 1129 GMT. US West Texas Intermediate futures edged up by 48 cents, or 0.5%, to $91.00.

The Brent contract is on track for a 16% decline this week, which would be its steepest weekly percentage fall since the start of the COVID-19 pandemic and its biggest in absolute terms in LSEG data going back to 1988.

WTI is set for a 13% decline.