ISLAMABAD: Despite a decline of more than $3 in global crude oil prices, the Shehbaz government has once again increased the prices of petroleum products in Pakistan. Petrol has been increased by Rs2.10 per litre, while the price of high-speed diesel (HSD) has risen by Re0.30 per litre. The government is also continuing to collect petroleum levy and other charges, adding to the financial burden on consumers.
According to the new prices announced by the federal government, petrol has increased from Rs390.66 to Rs392.76 per litre, while the price of high-speed diesel has been raised from Rs399.34 to Rs399.64 per litre. The revised prices will remain effective from October 3 to October 5, 2026.
The Oil and Gas Regulatory Authority (OGRA) reviewed the new ex-depot prices of petroleum products under the government’s prescribed pricing mechanism, following which the prices were revised.
According to the Petroleum Division, the new prices of petrol and diesel were determined after taking international market rates into account. The division said the revision was necessitated by changes in international Platts rates, premiums and other related costs.
It is worth noting that just a day earlier, the government had increased the price of petrol by Rs3.26 per litre to Rs390.66, while reducing the price of high-speed diesel by Rs1.01 per litre to Rs399.34.
Meanwhile, crude oil prices fell sharply in the international market on Friday, declining by more than $3. European gasoil futures, an important benchmark for diesel prices, also fell by more than 4%.
Brent crude fell by $3.06, or around 3%, to $99.25 per barrel, while West Texas Intermediate (WTI) declined by $3.95, or 4.25%, to $88.92 per barrel.
On a weekly basis, both major crude oil benchmarks also remained lower. Brent was down around 4.7% for the week, while WTI had declined by approximately 3.7%.
Meanwhile, European gasoil futures fell by around 4.3% to $1,386.75 per metric ton.
