ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced updated fuel prices effective for October 28, driven by international market trends and rising import costs.
To cushion consumers against surging global oil prices, the regulatory body partially mitigated the impact by reducing the custom duty on petrol by Rs5.71 per litre, lowering it from Rs26.27 to Rs20.56.
As a result, the retail price of petrol has dropped by Rs3.19 per litre, bringing the new rate to Rs376.06 per litre (down from Rs379.25). Conversely, High-Speed Diesel (HSD) has increased by Rs2.25 per litre, pushing its retail price up from Rs395.82 to Rs398.07 per litre.
OGRA attributed these adjustments to global developments alongside changes in Platts pricing, premiums, and incidental costs. International benchmark prices indicated an upward trend: refined petrol rose to USD 120.21 per barrel from USD 118.41 on October 27, while HSD benchmark prices increased to USD 113.13 per barrel from USD 110.58.
Reflecting these global shifts, the ex-refinery price of petrol climbed down to Rs265.30 per litre (previously Rs 268.11), while the import cost of HSD increased to Rs290.52 per litre (previously Rs288.27).
According to a Petroleum Division notification, government levies and fixed profit margins for petrol and 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 Rs7.91 per litre for petrol, and Rs4.71 per litre for HSD.
Copyright Business Recorder, 2026