Government cuts petrol and diesel prices again

The Oil and Gas Regulatory Authority (OGRA) on Thursday reduced the price of petrol by Rs3 per litre to Rs332 and high-speed diesel (HSD) by Rs4 to Rs360, effective November 13, 2026.

In a press release, OGRA said the revised prices had been determined under the petroleum products pricing mechanism approved by the federal government.

The latest reduction follows Wednesday’s revision, when the government cut petrol prices by Rs3 per litre to Rs335 and diesel prices by Rs7 to Rs364.

With the latest cuts, petrol has become cheaper by a cumulative Rs42.51 per litre since November 2, falling from Rs374.51 to Rs332.

Similarly, the price of high-speed diesel has declined by Rs35.20 per litre, from Rs395.20 to Rs360, during the same period.

The government has announced successive reductions in fuel prices since November 2, passing on the benefit of changing international oil market conditions to consumers.

The Petroleum Division determines fuel prices under the government-approved pricing mechanism, taking into account international oil prices, Platts rates, premiums and other associated costs.

International oil prices

Globally, oil prices edged higher on Thursday after earlier losses, as persistent geopolitical tensions in the Middle East and Russia offset pressure from rising crude output.

Brent crude futures rose 65 cents to $93.40 a barrel at 1425 GMT, while US West Texas Intermediate (WTI) crude gained one cent to $86.54.

Both benchmarks had fallen more than $1 per barrel during early Asian trading and remained on course for weekly losses.