Govt cuts petrol by 14 paise, diesel by Rs1.89 per litre

The federal government on Wednesday cut the price of petrol by Rs0.14 per litre and high-speed diesel (HSD) by Rs1.89 per litre for October 1,

Petrol will now cost Rs387.40 per litre, down from Rs387.54, while HSD will be available at Rs400.35 per litre, compared with Rs402.24 previously.

The revised prices will take effect from October 1, 2026 and remain applicable throughout the month.

The Petroleum Division said the revised ex-depot prices were determined by the Oil and Gas Regulatory Authority (OGRA) under the petroleum pricing mechanism approved by the federal government.

The division attributed the changes to international market developments, including changes in Platts rates, premiums and incidentals.

The revised prices will remain effective for October 1, 2026, under the federal government’s petroleum pricing mechanism.

The Petroleum Division said the price revision was necessitated by global developments, including changes in Platts rates, premiums and incidentals.

On Monday, the government reduced the price of petrol by Rs2.27 per litre to Rs389.03 and diesel by Rs3.56 to Rs404.97 per litre.

Meanwhile, oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by the US-Israeli war on Iran outweighed signs of recovering crude exports from the region.

Brent crude futures for November rose $1.71, or 1.6%, to $106.99 a barrel at 0626 GMT, while the more actively traded Brent December contract rose $1.68 to $99.51 a barrel.

Meanwhile, US West Texas Intermediate crude was at $94, up $1.4, or 1.5%.

A day earlier, both benchmarks closed nearly $1 a barrel higher.