ISLAMABAD: In its daily fuel price review for October 21, the government increased the petrol price by 88 paise to Rs382.02 per litre from Rs381.14. Similarly, the price of High-Speed Diesel (HSD) saw an increase of 53 paise per litre from Rs389.27 to Rs389.80.
The latest prices reflect trends in the global oil markets over the last seven days. Average refined petrol prices eased to USD 120.35 per barrel from USD 121.44 on October 20, while HSD increased slightly to USD 108.34 per barrel from USD 108.02.
The sharper decline in diesel prices on October 20 was primarily driven by a significant contraction in the HSD crack spread, which narrowed from USD 41.89 to USD 38.00 per barrel for a period of 3 months.
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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 the import cost of both petroleum products. The import cost of petrol has been increased to Rs271.28 per litre from Rs270.40 per litre, whereas the cost of HSD price has also increased at Rs282.24 from Rs281.71 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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