Govt cuts petrol, diesel prices for second straight day

The government has reduced petrol and high-speed diesel (HSD) prices for the second straight day, cutting petrol by Rs1.49 per litre and diesel by Rs2.73.

According to a Petroleum Division notification issued on Tuesday, the new price of petrol has been set at Rs387.54 per litre, while HSD will cost Rs402.24 per litre.

The revised prices will be effective for Wednesday, September 30, 2026, only.

The Oil and Gas Regulatory Authority (OGRA) determined the revised prices under the petroleum pricing mechanism, while the Petroleum Division issued the notification.

The ministry said the adjustment was based on developments in the global market, including changes in Platts rates, premiums and incidentals.

Second consecutive reduction

In the previous review announced on Monday, the government cut petrol by Rs2.27 per litre to Rs389.03 and HSD by Rs3.56 to Rs404.97.

The latest reduction brings the cumulative cut over the two reviews to Rs3.76 per litre for petrol and Rs6.29 for HSD.

Oil prices ease

Global oil prices fell on Tuesday as markets focused on signs of recovering crude exports from the Middle East, although concerns remained over potential supply disruptions linked to the US-Israeli war on Iran.

Brent crude futures were down $1.38, or 1.3%, at $103.88 a barrel, while US West Texas Intermediate (WTI) crude fell $2.04, or 2.2%, to $90.58, according to Reuters.

Saudi Arabia has also resumed crude and refined-product loadings from its Red Sea port of Yanbu after the East-West Pipeline was restored, adding to expectations of higher regional oil exports.

Despite Tuesday’s decline, Brent was still on track for a monthly gain of about 15%, while WTI was heading for a gain of around 5.7%, Reuters reported.