ISLAMABAD: In the latest daily price review, petrol retail prices have slightly decreased by Rs 2.71 to Rs 379.31 per litre from Rs 382.02. High-Speed Diesel (HSD) has increased by paise 31 per litre from Rs 389.90 to Rs 390.11. The new rates take effect on October 22.
Average refined petrol prices eased to USD 118.80 per barrel from USD 120.35 on October 21, while HSD increased slightly to USD 108.52 per barrel from USD 108.34. The sharper decline in diesel prices was primarily driven by a significant contraction in the HSD crack spread, which narrowed from USD41.89 to USD38.00 per barrel for a period of 3 months.
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 the import cost of both petroleum products. The import cost of petrol has been decreased to Rs 268.57 per litre from Rs 271.28 per litre, whereas, the cost of HSD price has increased at Rs 282.55 from Rs 282.24 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 Rs 80 per litre, a Climate Support Levy of Rs 5 per litre, and profit margins of Rs 9.98 per litre for dealers and Rs 7.87 per litre for oil marketing companies. The Inland Freight Equalization Margin (IFEM) is sustained at Rs 7.89 per litre for petrol, and Rs 4.71 per litre for HSD.
Copyright Business Recorder, 2026