Govt hikes petrol price by Re0.88, cuts diesel by Rs1.88 per litre
- New prices are effective for October 6
The government increased petrol and diesel prices due to global developments, despite a recent dip in international oil prices influenced by increased exports and G7 reserve releases.
- Recent government-mandated fuel price increases.
- Global developments driving petroleum price revisions.
- International oil market fluctuations and G7 reserve releases.
The federal government on Monday reduced the price of high-speed diesel (HSD) by Rs1.88 per litre to Rs397.76, while increasing petrol price by Re0.88 to Rs393.64 for October 6, 2026.
The Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the government’s petroleum pricing mechanism, according to the Petroleum Division.
The price of diesel has been reduced from Rs399.64 to Rs397.76 per litre, while petrol will now be available at Rs393.64, up from Rs392.76 per litre.
The Petroleum Division said the price changes were necessitated by global developments, including changes in Platts rates, premiums and incidentals.
On Friday, the government increased the price of petrol by Rs2.10 per litre to Rs392.76 and high-speed diesel by Re0.30 to Rs399.64 per litre for three days.
Meanwhile, oil prices slipped on Monday after crude exports from the Middle East increased and the Group of Seven nations pledged to boost supplies, though selling was limited by ongoing disruption fears linked to the US-Israeli war on Iran.
Brent crude futures were down $1.10, or 1.08%, at $101.15 a barrel by 11:59 a.m. ET (1559 GMT), while US West Texas Intermediate crude was down 89 cents, or 0.98%, at $90.22.
G7 countries agreed on Friday to release 100 million barrels of diesel and crude from emergency reserves and pledged to refrain from energy export restrictions after pressure from US President Donald Trump.