Petrol cut by Rs3.19 to Rs376.06 as diesel rises to Rs398.07 from October 28

ISLAMABAD — Petrol has become cheaper and diesel dearer in Pakistan’s latest fuel price revision, with the new rates taking effect on Wednesday, October 28. The Petroleum Division issued the notification on Tuesday, reversing course on petrol just a day after it had gone up.

Petrol now costs Rs376.06 a litre, down Rs3.19 from Rs379.25. High-speed diesel (HSD) has risen Rs2.25, from Rs395.82 to Rs398.07 a litre — less than two rupees short of the Rs400 mark.

Petrol down, diesel up for a fourth straight time

The petrol cut undoes Tuesday’s increase of Rs1.54 a litre for October 27. Diesel, by contrast, has now risen for the fourth consecutive revision, and each step adds to the cost of moving goods and people around the country.

The Oil and Gas Regulatory Authority (OGRA) revised the prices under the federal government’s petroleum pricing mechanism, citing changes in international Platts rates, premiums and incidental costs. To soften the blow on petrol, customs duty on the fuel was cut by Rs5.71 a litre, from Rs26.27 to Rs20.56 — the concession that made the retail cut possible.

Levies and margins unchanged

Government levies are untouched: the petroleum levy stays at Rs80 a litre and the climate support levy at Rs5 a litre on both fuels. Dealer margins of Rs9.98 and oil marketing company margins of Rs7.87 a litre are also unchanged.

The global backdrop

World oil markets have been unsettled for days. Brent crude fell about one percent on Tuesday to $114.81 a barrel, with US West Texas Intermediate at $100.88, after talks in Tehran involving Pakistan, Saudi Arabia, Turkiye and Iran eased fears of supply disruption. Only last week, Brent had surged past $117 following attacks on tankers near the Strait of Hormuz.

What it means for consumers

For motorcyclists and car owners, the petrol cut saves roughly Rs160 on a 50-litre tank — welcome, if modest. But dearer diesel feeds straight into freight, public transport and farm machinery costs, and that pressure tends to show up, sooner or later, in the prices of everyday goods.