Govt cuts diesel price by Rs1.96, raises petrol by Rs4.61 per litre

The government has reduced the ex-depot price of high-speed diesel (HSD) by Rs1.96 per litre to Rs422.08 per litre, and increased the petrol price by Rs4.61 to Rs393.75 per litre, effective September 22, 2026.

According to a press release issued by the Petroleum Division on Monday, 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 was previously Rs424.04 per litre, while petrol was priced at Rs389.14 per litre.

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

The revised prices will remain effective till Tuesday, September 22, 2026.

In the previous review, the government had reduced the price of petrol by Rs1.65 per litre to Rs389.14 and high-speed diesel by Re0.88 to Rs424.04.

Earlier in the day, oil prices eased to their lowest level in 12 days, as investors eyed a partial recovery in shipments from Saudi Arabia and hoped for diplomatic progress on the Iran war due to this week’s UN meeting.

During the session, Brent crude futures and US West Texas Intermediate crude dipped below $100 a barrel to their lowest since September 9. The Brent contract for November was at $100.39 a barrel at 11:02 a.m. ET (1502 GMT), down $3.48, or 3.35%.

The WTI October contract that is expiring on Tuesday fell $4.64, or 4.63%, to $95.66 a barrel. The November contract stood at $92.34.