ISLAMABAD: The government has reduced the price of petrol by Rs1.70 per litre and high-speed diesel (HSD) by Rs3.12 per litre, citing changes in international oil prices.
Under the revised rates, petrol will now be available at Rs392.05 per litre, down from Rs393.75, while HSD will cost Rs418.96 per litre, compared with the previous Rs422.08.
The revised prices were notified by the Petroleum Division and are effective from September 23.
Government Implements Daily Fuel Price Review
The latest reduction comes after the government introduced a daily petroleum price review mechanism amid volatility in global oil markets.
Under the new framework, the Oil and Gas Regulatory Authority (OGRA) will determine daily ex-depot prices for petrol and HSD based on the seven-day average of international petroleum prices. Prices notified on Fridays will remain unchanged over the weekend.
The regulator has also begun publishing daily petroleum price information to improve transparency and allow changes in international oil prices to be reflected more quickly in domestic fuel prices.
New Import Rules for Petroleum Products
The revised pricing framework also includes changes to petroleum import arrangements for the 2026-27 fiscal year.
According to the government-approved mechanism, imports of high-speed diesel will be handled exclusively through Pakistan State Oil (PSO), while oil marketing companies will be permitted to import petrol according to their respective market shares.
Companies that fail to meet required import or upliftment obligations may face restrictions on obtaining fresh import permissions for up to nine months.
The framework also provides for daily pricing of kerosene oil and light diesel oil, while changes to the petroleum levy will require approval from the Finance Division.