ISLAMABAD: Consumers across the country will get relief at the fuel pumps effective for November 4, as the Oil and Gas Regulatory Authority (OGRA) announced a reduction in the ex-depot prices of petrol and High-Speed Diesel (HSD).
Under the newly notified rates, the price of petrol has been reduced by Rs5.45 per litre, bringing the retail price down to Rs369.06 per litre. HSD also saw a cut of Rs3.68 per litre, fixing its new rate at Rs391.52 per litre, down from the previous Rs395.20.
Under a new pricing mechanism announced a day earlier for 30 days, oil refineries will contribute to the petroleum levy by bearing a cumulative impact of Rs15 billion, according to the government. This would allow Rs14.71 reduction in the petrol price at the consumer end.
For HSD, the price drop reflects international market trends, primarily driven by a decline in the global HSD crack spread, which dropped from USD 41.89 to USD 38.00 per barrel.
The regulator attributed these adjustments to global developments alongside changes in Platts pricing, premiums, and incidental costs. International benchmark prices of petrol has decreased to USD 115.49 per bbl from USD 118.62 per barrel, however, premium including freight remained as high as USD 25.52 per bbl, while HSD benchmark prices has decreased to USD 112.20 per barrel from USD 114.31 per bbl.
Reflecting these global shifts, the ex-refinery price of petrol climbed down to Rs274.41 per litre (previously Rs278.86). While the import cost of HSD decreased to Rs283.59 per litre (previously Rs287.27).
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 Rs7.51 per litre for petrol, and Rs5.08 per litre for HSD.
Copyright Business Recorder, 2026