ISLAMABAD: Petrol has been increased by Rs1.85, bringing the new retail price to Rs377.91 per litre from Rs 376.06. Similarly, the price of High-Speed Diesel (HSD) has been raised by Rs1.75 to Rs399.82 per litre from Rs 398.07, despite a drop in the HSD crack spread from USD 41.89 to USD 38 per barrel.
The Oil and Gas Regulatory Authority (OGRA) has announced an increase in fuel prices for October 29, driven by rising international market trends and import costs.
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 121.28 per barrel from USD 120.21 on October 28, while HSD benchmark prices increased to USD 114.15 per barrel from USD 113.13.
Reflecting these global shifts, the ex-refinery price of petrol climbed up to Rs267.15 per litre (previously Rs 265.30), while the import cost of HSD increased to Rs292.27 per litre (previously Rs290.52).
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