Govt raises diesel price by Rs1.64, cuts petrol by Rs1.60 per litre

The government has increased the price of high-speed diesel (HSD) by Rs1.64 per litre and reduced petrol price by Rs1.60 per litre, effective October 23, 2026.

According to a press release issued by the Petroleum Division on Thursday, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the federal government’s petroleum pricing mechanism.

Following the revision, the price of HSD has increased from Rs390.11 to Rs391.75 per litre, while petrol price has declined from Rs379.31 to Rs377.71 per litre.

The revised prices will be effective for October 23, 2026.

The government on Wednesday, reduced the price of petrol by Rs2.71 to Rs379.31 per litre, while increasing the price of diesel by Re0.31 to Rs390.11 per litre.

Globally, oil prices climbed about 2% to a five-month high on Thursday after Houthi attacks in Saudi Arabia stoked concerns of further disruption to energy supplies from the key exporting region.

Brent futures rose $2.42, or 2.2%, to $111.24 a barrel at 10:45 a.m. EDT (1445 GMT), while US West Texas Intermediate (WTI) crude rose $1.14, or 1.2%, to $98.29.

That drove Brent into technically overbought territory for a third time in a week and set for its highest close since May 18.