Petrol price raised by Rs3.26 to Rs390.66 per litre; diesel falls Rs1.01
Petrol price raised by Rs3.26 to Rs390.66 per litre; diesel falls Rs1.01
ISLAMABAD: The federal government on Thursday raised the price of petrol by Rs3.26 per litre while cutting high-speed diesel (HSD) by Rs1.01 per litre, ending a run of small daily cuts that had lowered pump prices through September. The revised rates, notified by the Petroleum Division on the recommendation of the Oil and Gas Regulatory Authority (Ogra), apply from today (October 2).
Petrol price hike October: the new rates
The revision moves in opposite directions for the two main fuels. Petrol, used in private transport, rickshaws and two-wheelers, gets costlier. Diesel, the backbone of heavy transport and power generation, gets marginally cheaper.
| Fuel | Price for Oct 1 | New price (Oct 2) | Change |
|---|---|---|---|
| Petrol | Rs387.40/litre | Rs390.66/litre | +Rs3.26 |
| High-speed diesel | Rs400.35/litre | Rs399.34/litre | −Rs1.01 |
The increase wipes out the benefit of the previous day’s small relief. For October 1, petrol had been cut by 14 paisas to Rs387.40 and diesel by Rs1.89 to Rs400.35.
How prices reached this point
Prices are now fixed daily, Monday to Friday, under a mechanism announced on July 17 by Petroleum Minister Ali Pervaiz Malik. The cabinet gave Ogra responsibility for setting ex-depot prices each day based on international market trends, including Platts product rates, premiums and incidentals.
The backdrop is a volatile year. Petrol began rising from Rs266 in the first week of March and peaked at Rs458.41 on April 3. Diesel started climbing from Rs281 after the US-Iran war broke out on February 28 and peaked at Rs520.35 on April 3. Both fuels have since come down, but they remain far above pre-conflict levels.
There was some relief in global markets on Thursday. Brent crude fell below $100 a barrel as the December contract eased 1.1 per cent to $96.92, while US WTI crude dropped 1.4 per cent to $89.18. Recovering Gulf exports and rising American crude inventories eased supply concerns linked to the US-Iran conflict.
What it means for consumers
Pump prices still carry heavy implicit levies: roughly Rs114 per litre on petrol and about Rs100 per litre on diesel. These taxes remain a major reason why retail prices stay elevated even when crude softens.
The government has kept a targeted relief scheme running for smaller vehicles. Announced by Prime Minister Shehbaz Sharif on September 13, it offers Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc. Two-wheeler and three-wheeler users get relief on 20 litres a month, worth up to Rs2,000, while 800cc car owners get relief on 30 litres, worth up to Rs3,000. Around 11.8 million beneficiaries are expected to qualify.
On September 17, the government also reintroduced fuel conservation measures, including tighter business operating hours and restrictions on public events, as high prices persist.
FAQ
How much does petrol cost per litre in Pakistan today?
Petrol costs Rs390.66 per litre from October 2, after a Rs3.26 increase. High-speed diesel costs Rs399.34 per litre after a Rs1.01 cut.
How often do fuel prices change in Pakistan now?
Prices are revised daily from Monday to Friday under a mechanism introduced on July 17. Before that, the government made weekly revisions; earlier, prices were set fortnightly.
Why did petrol rise while diesel fell?
Petrol and diesel follow separate international product rates. Ogra sets each fuel’s ex-depot price daily based on Platts product benchmarks, premiums and other incidentals, so the two can move in opposite directions.
Who qualifies for the subsidised fuel scheme?
Motorcycles, three-wheeler rickshaws and cars with engines up to 800cc qualify for Rs100 per litre off petrol. An estimated 10 million two-wheeler users, 800,000 three-wheeler users and one million small-car owners are expected to be covered.
