Govt raises petrol by Rs1.19, cuts diesel by Rs1.91 per litre

The government has increased the price of petrol by Rs1.19 per litre to Rs394.83 and reduced high-speed diesel (HSD) by Rs1.91 to Rs395.85 per litre for October 7, 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 a Petroleum Division notification.

The notification said the revised prices were linked to changes in petrol and diesel prices in the international market.

It added that petroleum product prices were adjusted in line with changes in global market rates, Platts rates, premiums and other applicable costs.

The revised prices will take effect from October 7, 2026.

On Monday, the federal government reduced the diesel price by Rs1.88 per litre to Rs397.76, while increasing the petrol price by Re0.88 to Rs393.64.

Meanwhile, the oil prices fell nearly 2% on Tuesday as supply concerns eased due to increased Middle Eastern crude exports and an agreement by the Group of Seven countries to release emergency diesel and crude stockpiles.

Brent futures were down $1.84, or 1.8%, at $98.48 a barrel at 10:30 a.m. EDT (1430 GMT), while US West Texas Intermediate (WTI) crude fell $1.42, or 1.6%, to $88.01.

Those moves put Brent on track for its lowest close since September 8 and WTI on track for its lowest close since August 31.