Govt hikes petrol by Rs3.26, cuts diesel price by Rs1.01 per litre

The federal government on Thursday increased the price of petrol by Rs3.26 to Rs390.66 per litre, while reducing high-speed diesel (HSD) by Rs1.01 to Rs399.34 per litre, effective October 2, 2026.

According to a press release issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices under the petroleum pricing mechanism notified by the federal government.

The price of motor spirit (petrol) was revised from Rs387.40 per litre to Rs390.66, while the price of HSD was reduced from Rs400.35 to Rs399.34 per litre.

The revised prices will remain effective for October 2, 2026, under the federal government’s petroleum pricing mechanism.

The Petroleum Division said the price revision was necessitated by global developments, including changes in Platts rates, premiums and incidentals.

On Wednesday, the government cut petrol price by Re0.14 per litre to Rs387.40 and high-speed diese by Rs1.89 to Rs400.35.

Meanwhile, brent benchmark oil prices rose around 2% on Thursday after China suspended oil product exports, potentially tightening fuel markets already coping with supply shortages globally, while investors continued to assess diplomatic efforts to end the US-Israeli war on Iran.

The new front-month December Brent crude futures contract traded at $99.77 per barrel at 1312 GMT, up 1.8%, or $1.7, from Wednesday’s close.

The November contract expired on Wednesday, settling at $103.50 per barrel, marking a monthly gain of around 14% in September for the front-month contract.

US West Texas Intermediate crude was up 37 cents, or 0.4%, to $90.79 a barrel, having traded close to $93 earlier in the session.