Petrol cut by Rs8 to Rs338 a litre, diesel down Rs7 in sixth straight cut
Petrol is now Rs338 and diesel Rs371 a litre from 11 November. Why prices keep falling, what changed since last week and what to watch next.
Petrol in Pakistan is now Rs338 a litre, down Rs8, and high-speed diesel is Rs371, down Rs7, from Wednesday, 11 November. The new prices were notified by the Oil and Gas Regulatory Authority (OGRA) on Tuesday night, Business Recorder and Dawn reported. Last week’s cut had taken petrol to Rs346 and diesel to Rs378.
How many cuts in a row?
Aaj News counts this as the sixth straight reduction. Samaa described it as the second weekly cut in a row, because prices are now being reviewed more often than the old fortnightly cycle. Either way the direction is clear: in early November petrol was above Rs360, and it has dropped by more than Rs20 a litre since.
| Date | Petrol (Rs/litre) | Diesel (Rs/litre) |
|---|---|---|
| 5 November | 362.00 | 387.81 |
| 6 November | 352.59 | 382.25 |
| 7 November | 346.00 | 378.00 |
| 11 November | 338.00 | 371.00 |
Why prices are falling
The main reason is the world oil price. Brent crude briefly slipped below $90 a barrel on Tuesday for the first time since August, CNBC reported, after US President Donald Trump said the Iran war was “militarily effectively over”. Hum News said the government passed on the drop as international rates touched two-month lows.
A cheaper diesel matters more than the headline petrol number for most households. Goods transport, tractors, tube wells and inter-city buses run on diesel, so a lower diesel price can slowly feed into fares and food prices, if transporters pass it on.
The subsidy question
The cut comes as the government’s tech-based targeted fuel subsidy is being rolled out; Prime Minister Shehbaz Sharif called it a “game changer”, Mettis Global reported. The News reported that some pumps stopped selling subsidised petrol after the price came down. Jamaat-e-Islami also said a “basic outline” of relief on the petroleum levy had been agreed in talks with the government, according to Dawn, though no levy cut has been notified yet.
What to watch
Oil is still jumpy. Tankers were still being hit in the Middle East this week, Reuters reported, and any new flare-up could push crude back up within days. The next price notice will show whether the run of cuts continues. Our petrol price page is updated every time OGRA changes the rate.
This is information, not investment advice.
