ISLAMABAD: In its daily review, the government on Tuesday increased the petrol price by Rs1.19 per litre and reduced the price of High Speed Diesel (HSD) by Rs1.91 per litre for October 7.
According to an official notification, the price of petrol has been increased to Rs394.83 per litre from Rs393.64 per litre. On the other hand, the price of HSD reduced to Rs395.85 per litre from Rs397.76 per litre.
The price revision comes as local production declines and international oil markets face volatility following disruption in the Strait of Hormuz.
During last seven days, the average refined petrol price has been increased to USD 131.37 per bbl (compared to USD 130.68 per bbl on October 6), while HSD decreased to USD 107.80 per barrel from USD 108.88 per bbl.
READ MORE: Govt hikes petrol price by Re0.88, cuts diesel by Rs1.88 per litre
While, domestic oil production declined sharply 6.4 percent week on week (WoW) to 63.7k bopd, mainly due to lower flows from northern fields, according to Arif Habib Limited.
Oil and Gas Regulatory Authority (OGRA) states that the change in price is necessitated by global events including changes in Platts rates, premiums, incidentals etc.
A Petroleum Division notification states that levies and profit margins remain largely steady across both products. The change is recorded in import cost of both petroleum products. The import cost of petrol has been increased to Rs283.96 per litre from Rs282.77 per litre, whereas, cost of HSD price has gone down to Rs288.25 per litre from Rs290.16 per litre.
According to a Petroleum Division notification, government levies and fixed profit margins for petrol and high-speed diesel (HSD) remain unchanged. Both fuels carry a Petroleum Levy of Rs80 per litre, a Climate Support Levy of Rs5 per litre, and profit margins of Rs9.98 per litre for dealers and Rs7.87 per litre for oil marketing companies.
The Inland Freight Equalisation Margin (IFEM) is sustained at Rs8.02 per litre for petrol, and from Rs4.19 to Rs4.75 per litre for HSD.
Copyright Business Recorder, 2026