Petrol price in Pakistan today: Rs374.51 after Rs3.40 cut, diesel down Rs7.76 to Rs395.20
Petrol is Rs3.40 cheaper and diesel Rs7.76 cheaper from 3 November. The new rates, why they fell, and the refinery deal behind the cut.
Petrol in Pakistan costs Rs374.51 a litre from Tuesday, 3 November, down Rs3.40, and high-speed diesel costs Rs395.20, down Rs7.76. The Oil and Gas Regulatory Authority (Ogra) notified the new rates on Monday night.
The diesel cut is the bigger news for most households. Diesel had crossed Rs400 last week, after a Rs2.29 rise on Friday took it to Rs402.96, and it drives the cost of trucks, buses, tractors and the goods they carry.
Today’s fuel prices
| Fuel | Old price | New price | Change |
|---|---|---|---|
| Petrol | Rs377.91 | Rs374.51 | -Rs3.40 |
| High-speed diesel | Rs402.96 | Rs395.20 | -Rs7.76 |
Prices are per litre and in effect from 3 November. Since 17 July fuel prices have been set daily by Ogra in line with world markets, so they can move again within days.
Why prices came down
World oil fell sharply on Monday. Brent crude fell more than 6 per cent during the day as talks involving Iranian and Qatari officials raised hopes of an end to the US-Israeli war with Iran.
That relief may not last. Brent rose about 1.8 per cent to $106.61 a barrel on Tuesday morning after the US struck Iran’s Qeshm Island near the Strait of Hormuz, so the next daily revision could go either way.
The refinery deal
Petroleum Minister Ali Pervaiz Malik and Information Minister Attaullah Tarar announced a new arrangement at a press conference in Islamabad on Monday: the oil refineries will carry a cumulative Rs15 billion a month towards the petroleum levy.
“I am grateful to all the refineries that saw the public is in difficulty,” Malik said, adding that they had been asked to support people during a hard time.
Even after the cut, taxes and duties stay heavy: about Rs114 a litre on petrol and Rs100 on diesel, according to the government’s own figures. For comparison, petrol peaked at Rs458.41 and diesel at Rs520.35 on 3 April, a few weeks after the war began on 28 February.
What it means for you
A motorcyclist filling 10 litres saves Rs34; a 40-litre car tank saves Rs136. Transporters will feel the diesel cut more, but there has been no announcement yet on lower fares or freight rates.
Political pressure on the levy continues. Jamaat-e-Islami chief Hafiz Naeemur Rehman has said his party will march on Islamabad in mid-November unless major relief is announced.
This is information, not financial advice. Check Ogra’s daily notification before relying on a price.
