The federal government on Wednesday cut the price of petrol by Re0.14 per litre to Rs387.40 and high-speed diesel (HSD) by Rs1.89 to Rs400.35 for Wednesday, October 1.
Petrol went down from Rs387.54, while HSD price was reduced from Rs402.24
The Petroleum Division said the revised ex-depot prices were determined by the Oil and Gas Regulatory Authority (OGRA) under the petroleum pricing mechanism approved by the federal government.
The revised prices will remain effective for October 1, 2026, under the federal government’s petroleum pricing mechanism.
The Petroleum Division said the price revision was necessitated by global developments, including changes in Platts rates, premiums and incidentals.
On Tuesday, the government reduced the price of diesel by Rs2.73 to Rs402.24 per litre and petrol by Rs1.49 to Rs387.54 per litre.
Oil prices rose on Wednesday and were on track for significant monthly gains on stalled US-Iran peace talks and tightening US fuel markets.
The Brent November futures contract, which expires on Wednesday, was up $1.12, or 1%, at $103.71 a barrel at 10:50 a.m. EDT. The more active December contract was up $2.65, or 2.8%, at $98.81. US West Texas Intermediate crude was up $1.98, or 2.2%, at $91.98.
