Diesel price rises to Rs402.96 a litre, petrol unchanged at Rs377.91 till November 2

The diesel price has risen again in Pakistan, while petrol stays exactly where it was. The federal government has kept petrol unchanged at Rs377.91 a litre and raised high-speed diesel by Rs2.29 a litre, taking it to Rs402.96. According to the notification issued by the Oil and Gas Regulatory Authority (OGRA), the revised rates are in force from October 31 to November 2.

Why diesel went up

OGRA says the change was driven by developments in the world market, including movements in Platts rates, premiums and related incidentals. Pakistan has now moved to a daily fuel-pricing framework: instead of the old weekly review, OGRA publishes its daily price calculations on its website so that shifts in international oil prices reach consumers more quickly. Petroleum Minister Ali Pervaiz Malik has said the calculations rest on a seven-day average of international market rates, in line with practice elsewhere.

The old weekly system was replaced after hostilities in the Middle East in late February pushed the government towards faster adjustments. Under the new arrangement, prices notified on a Friday simply hold over the weekend — which is why the rates announced on October 30 apply from Saturday, October 31, through Monday, November 2.

What it means for consumers

For motorists who run on petrol, there is no extra burden this time: the pump price is unchanged. Diesel is another story. It powers the trucks, buses and farm machinery that move the country’s goods and harvests, so a dearer diesel litre tends to show up, sooner or later, in transport fares and in the price of everyday essentials. Transporters and farmers will have to rework their costs against the new rate, and households that depend on diesel-powered transport are likely to feel the pinch in the coming days.

Rates hold for three days

The current rates run until November 2. After that, the daily review mechanism will produce fresh prices based on the latest international picture. It is worth checking the displayed rate at the pump: a few stations can take a couple of hours to switch over when a new notification lands.