Pakistan Cuts Petrol Price by Rs5.45 to Rs369.06, Diesel by Rs3.68 in Second Cut in a Week
Pakistan cut petrol by Rs5.45 to Rs369.06 per litre and high-speed diesel by Rs3.68 to Rs391.52, effective 4 November 2026 — the second fuel price cut in a week, OGRA notified.
Drivers across Pakistan woke up to cheaper fuel on Wednesday, as the government cut petrol and diesel prices for the second time in a week, giving households and transporters some relief at the pump.
Highlights
- Petrol cut by Rs5.45 per litre to Rs369.06, effective 4 November 2026
- High-speed diesel cut by Rs3.68 per litre to Rs391.52
- OGRA notified the new ex-depot prices, citing global market trends
- This is the second price cut within a week
The Oil and Gas Regulatory Authority (OGRA) announced a reduction in the ex-depot prices of petrol and high-speed diesel (HSD) effective for 4 November (Business Recorder, 4 Nov 2026). Under the newly notified rates, petrol has been reduced by Rs5.45 per litre to Rs369.06 per litre, while HSD has been cut by Rs3.68 per litre to Rs391.52 per litre, down from the previous Rs395.20 (Business Recorder, 4 Nov 2026). A separate report also confirmed the government had cut petrol and diesel prices ahead of the notification (Aaj English, 3 Nov 2026).
What drove the cut
According to the regulator, the HSD price drop reflects international market trends, primarily a decline in the global HSD crack spread, which dropped from USD 41.89 to USD 38.00 per barrel (Business Recorder, 4 Nov 2026). International benchmark prices of petrol decreased to USD 115.49 per barrel from USD 118.62 per barrel, while the HSD benchmark fell to USD 112.20 per barrel from USD 114.31 per barrel (Business Recorder, 4 Nov 2026).
The report added that, under a new pricing mechanism announced a day earlier for 30 days, oil refineries will contribute to the petroleum levy by bearing a cumulative impact of Rs15 billion, according to the government (Business Recorder, 4 Nov 2026). Government levies and fixed margins remain unchanged: both fuels carry a Petroleum Levy of Rs80 per litre and a Climate Support Levy of Rs5 per litre (Business Recorder, 4 Nov 2026).
Why it matters for households and business
Fuel prices feed directly into transport fares, food prices and inflation, so a second cut in a week matters beyond the petrol pump. It comes at a time when the wider credit picture is also shifting — read how Pakistan’s private sector has turned a net borrower, taking Rs87 billion from banks, and how the prime minister is pushing banks on lending in Shehbaz’s order for faster lending to SMEs, farmers and Apna Ghar applicants. Cheaper diesel, in particular, can ease freight costs for goods moving across the country.
For consumers, the practical test will be whether transporters and retailers pass the reduction on. Petrol now costs Rs369.06 per litre and HSD Rs391.52 per litre at the new notified rates (Business Recorder, 4 Nov 2026).
