The federal government on Friday increased the price of high-speed diesel by Rs1.91 per litre while keeping the petrol price unchanged till October 26. The revision was made under the daily fuel pricing mechanism introduced earlier this year.
According to a notification issued by the Petroleum Division, petrol will continue to sell at Rs377.71 per litre, while high-speed diesel will cost Rs393.66 per litre from October 24 to October 26.
Diesel price Pakistan: second revision in two days
The latest change comes only a day after the government cut petrol by Rs1.60 per litre and raised diesel by Rs1.64 per litre for October 23. The back-to-back revisions show how the new daily pricing system works in practice.
On July 17, the government announced that petroleum product prices would be reviewed and notified daily, replacing the previous fortnightly system. The shift came as renewed tensions between the United States and Iran drove volatility in global oil markets and raised fears over fuel supplies.
The move has not gone down well with fuel retailers. Petrol pump owners have rejected the daily revision system and sought a meeting with the government, arguing that constant price changes disrupt their business, as reported in Petrol pump owners reject daily fuel price changes.
Global oil market heats up
International prices provided the backdrop for the increase. Brent crude futures gained $4.01, or 3.54 per cent, to $117.18 a barrel on Friday, touching a session high of $117.38, the highest since late April. US West Texas Intermediate crude gained $3.75, or 3.77 per cent, to $103.22.
Houthi attacks on Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East, where the UAE also reported an oil spill. Analysts warned that continued attacks on tankers could quickly tighten the market.
“The market is concerned about these continued Iranian attacks on tankers that we’ve seen increase over the last week,” said Andrew Lipow, president of Lipow Oil Associates. He cautioned that while oil was still transiting the Strait of Hormuz, “that could change at any minute.”
Since Pakistan imports most of its petroleum requirements, such developments translate quickly into higher domestic fuel prices. Any disruption in the Strait of Hormuz or the Red Sea pushes up crude prices and freight costs almost immediately.
Relief scheme and conservation measures
The government has tried to cushion the impact on low-income consumers. On September 13, Prime Minister Shehbaz Sharif announced a relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc.
An estimated 11.8 million beneficiaries are covered. Around 10 million two-wheeler users and 800,000 three-wheeler users can claim relief on 20 litres a month, worth up to Rs2,000 each, while one million small-car users get relief on 30 litres, worth up to Rs3,000.
On September 17, the government also reintroduced austerity and fuel conservation measures, ordering shops and markets to close by 9pm and marriage halls by 10pm, with restaurants allowed until 11pm.
Meanwhile, senators have raised alarms about fuel availability itself, asking whether petrol will be available in December amid the Middle East crisis, as covered in Senate echoes with petrol shortage concerns. The daily pricing churn has also been kind to refineries, which posted record profits after the mechanism changed, reported in Refineries post record profits after daily fuel pricing.
Frequently asked questions
What are the new fuel prices in Pakistan?
From October 24 to 26, petrol costs Rs377.71 per litre (unchanged) and high-speed diesel costs Rs393.66 per litre (up Rs1.91), under the daily pricing mechanism.
Why did the diesel price increase?
The Petroleum Division revises prices daily based on global oil markets. Brent crude surged past $117 a barrel on Friday amid Houthi attacks on Saudi Arabia and fears of supply disruption through the Strait of Hormuz.
What is the daily fuel pricing mechanism?
Introduced on July 17, 2026, it replaced the fortnightly review system. Prices of petrol and diesel are now reviewed and notified every day, which means consumers can see revisions several times a week.
Who gets the Rs100 per litre petrol relief?
Motorcycles, three-wheeler rickshaws and cars with engines up to 800cc qualify under the scheme announced on September 13, covering an estimated 11.8 million beneficiaries.
