Petrol price in Pakistan today: Rs369.06 after Rs5.45 cut, diesel Rs391.52
Petrol is Rs5.45 cheaper and diesel Rs3.68 cheaper from Wednesday, 4 November. The new rates, why they fell and what the minister hinted next.
Petrol in Pakistan costs Rs369.06 a litre from Wednesday, 4 November, down Rs5.45, and high-speed diesel is Rs391.52, down Rs3.68. The Oil and Gas Regulatory Authority (OGRA) notified the new rates on Tuesday evening.
This is the second cut in two days: on Monday night petrol had already dropped by Rs3.40 to Rs374.51 (our story on that cut).
New fuel prices from 4 November
| Fuel | Old price | New price | Change |
|---|---|---|---|
| Petrol | Rs374.51 | Rs369.06 | -Rs5.45 |
| High-speed diesel | Rs395.20 | Rs391.52 | -Rs3.68 |
Prices now change daily. The government moved to a daily review because world oil prices have been swinging since the US-Iran war began in February, and OGRA now publishes the day’s petroleum prices on its website.
Why prices fell
Two things pushed the rate down, according to the government:
- Cheaper crude: international oil fell about 2% to a three-week low on Tuesday, with Brent at about $103 a barrel, as markets weighed peace talks on the Ukraine and Iran wars.
- A deal with refineries: under an arrangement announced on Monday for 30 days, refineries absorb about Rs15 billion of the petroleum levy. The government says this arrangement allows a Rs14.71 a litre cut in the petrol price for consumers.
Taxes are still heavy: about Rs114 a litre on petrol and Rs100 on diesel.
“Better news” coming?
Petroleum Minister Ali Pervaiz Malik told a press conference that “even better news” was on the way and said the government wants a similar refinery-based system for LPG, the cooking and rickshaw fuel whose price has hurt low-income families most. He did not give a date or figure, so treat it as a promise, not a price.
How far prices have come down
For context, petrol peaked at Rs458.41 and diesel at Rs520.35 on 3 April, after the war pushed oil up. Petrol is now about Rs89 a litre below that peak, though still well above the Rs266 it cost in early March.
What it means for you
A motorcyclist filling 10 litres a week saves about Rs55 a week compared with Tuesday. Diesel matters more for the wider economy: transporters and farmers pay it, and it feeds into the price of goods. Because rates are now set every day, check the price on the morning you fill up.
This is information, not financial advice.
