Govt cuts diesel price by Rs4.21, petrol by Rs1.93 per litre
- New prices are effective for Thursday, September 24
The government reduced diesel and petrol prices due to global developments, while global oil prices rose amid geopolitical tensions involving Iran.
- Government's recent diesel and petrol price cuts.
- Global factors influencing domestic fuel prices.
- Rising oil prices amid Iran-US geopolitical tensions.
The federal government has reduced the ex-depot prices of high-speed diesel (HSD) by Rs4.21 to Rs414.75 per litre, and motor spirit (petrol) by Rs1.93 per litre to Rs390.12 per litre
The previous price of HSD was Rs418.96 per litre, while petrol was priced at Rs392.05 per litre.
According to a press release issued by the Petroleum Division on Wednesday, the revised prices will take effect from September 24, 2026, under the petroleum pricing mechanism notified by the federal government.
The Petroleum Division said the price changes were necessitated by global developments, including changes in Platts rates, premiums and incidentals.
In the previous review, the government had reduced the price of diesel by Rs3.12 to Rs418.96 per litre and petrol by Rs1.70 to Rs392.05 per litre.
Meanwhile, oil prices were up almost 2% a barrel on Wednesday in choppy trade, as traders evaluated Iranian President Masoud Pezeshkian’s vow never to surrender, a day after US President Donald Trump warned he could “annihilate” Iran.
Brent crude futures rose $1.84, or 1.85%, to $101.09 a barrel by 11:11 a.m. EDT, while West Texas Intermediate futures gained 69 cents, or 0.76%, to $91.21.