ISLAMABAD: In the latest daily review, petrol price dropped by Rs5.16 to Rs381.14 per litre, down from Rs386.30. Meanwhile, High-Speed Diesel (HSD) saw a decrease of Rs7.69 per litre, falling from Rs396.96 to Rs389.27. The new rates take effect on October 20.
The price cuts reflect downward trends in global oil markets over the last seven days. Average refined petrol prices eased to USD 121.44 per barrel from USD 124.39 on October 17, while HSD dipped slightly to USD 108.02 per barrel from USD 108.54. The sharper decline in diesel prices was primarily driven by a significant contraction in the HSD crack spread, which narrowed from USD 41.89 to USD 38.00 per barrel.
Oil and Gas Regulatory Authority (OGRA) states that the change in price is necessitated by global events including changes in Platts rates, premiums, incidentals etc.
A Petroleum Division notification states that levies and profit margins remain largely steady across both products. The change is recorded in import cost of both petroleum products. The import cost of petrol has been declined to Rs270.40 per litre from Rs275.56 per litre, whereas, cost of HSD price has come down at Rs281.71 from Rs289.40 per litre.
According to the notification, government levies and fixed profit margins for petrol and HSD remain unchanged. Both fuels carry a Petroleum Levy of Rs80 per litre, a Climate Support Levy of Rs5 per litre, and profit margins of Rs9.98 per litre for dealers and Rs7.87 per litre for oil marketing companies. The Inland Freight Equalisation Margin (IFEM) is sustained at Rs7.89 per litre for petrol, and Rs4.71 per litre for HSD.
Copyright Business Recorder, 2026
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