Govt cuts petrol price by Rs1.65, diesel by Re0.88 per litre

The government has reduced the ex-depot price of petrol by Rs1.65 per litre to Rs389.14 and high-speed diesel (HSD) by Re0.88 to Rs424.04, effective from September 19 to September 21, 2026.

According to a press release issued by the Ministry of Energy (Petroleum Division) on Friday, the Oil and Gas Regulatory Authority (OGRA) revised the prices under the petroleum pricing mechanism issued by the federal government.

The ex-depot price of HSD has been revised from Rs424.92 to Rs424.04 per litre, while the price of motor spirit (MS) has been reduced from Rs390.79 to Rs389.14 per litre.

The ministry said the changes in petroleum prices were necessitated by global events, including changes in Platts rates, premiums and incidentals.

The revised prices will remain effective from September 19 to September 21, 2026.

In the previous review, the government had raised the price of petrol to Rs3.47 per litre while reducing the price of motor spirit (petrol) by Re0.43 per litre.

Meanwhile, oil prices fell on Friday as easing concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East.

Brent crude futures fell by 88 cents, or 0.84%, to $103.94 a barrel by 1225 GMT. U.S. West Texas Intermediate futures were little changed at $102.15.

Benchmark Brent prices are on track for their first weekly loss in three, down 0.8%.