Pakistani motorists are getting some relief at the pump. The federal government has cut petrol and high-speed diesel prices, with the new rates taking effect on Tuesday, 3 November 2026. The decision was announced on Monday evening after a notification from the Oil and Gas Regulatory Authority (OGRA), ending weeks of upward pressure on fuel prices in the country.
According to the OGRA notification, petrol has become cheaper by Rs3.40 per litre, while high-speed diesel (HSD) has recorded a bigger cut of Rs7.76 per litre. The announcement was made at a press conference in Islamabad addressed by Petroleum Minister Ali Pervaiz Malik and Information Minister Attaullah Tarar, as reported by The Global Times.
For consumers, this is the first meaningful downward revision after a period of volatility in international oil markets, and it arrives just as Pakistan’s headline inflation finally started easing.
New petrol and diesel prices in Pakistan from 3 November
Under the latest revision, petrol will now cost Rs374.51 per litre, down from the previous rate of Rs377.91. The price of high-speed diesel has been reduced from Rs402.96 to Rs395.20 per litre, according to figures confirmed by Bloom Pakistan and Pakistan Today.
Petrol: Rs377.91 → Rs374.51 (down Rs3.40)
High-speed diesel: Rs402.96 → Rs395.20 (down Rs7.76)
The revised rates have been determined under the federal government’s petroleum pricing mechanism, which takes international oil market movements into account. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel, according to The Global Times.
The cut follows our coverage of the October 31 revision, when diesel had crossed the Rs402 per litre mark for the first time.
OGRA shifts to daily fuel price announcements
Alongside the price cut, OGRA has moved to a daily petroleum pricing framework. The regulator has begun publishing daily petroleum prices on its website to improve transparency and pass changes in international oil prices on to consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily prices are based on a seven-day average of international market prices, in line with international practice, and reference daily Platts prices.
The shift is part of a broader revised petrol pricing formula that took effect on 2 November. Under the new arrangement, imported petrol prices are linked to the actual import cost of the relevant Pakistan State Oil (PSO) cargo, while key pricing components for local refineries — the premium, incidentals and customs duty — have been temporarily frozen at their March 7, 2026 levels for 30 days. Refineries must deposit the resulting difference into the petroleum levy account, and the benefit is being passed to consumers as a price reduction.
Refineries have agreed to absorb a burden of around Rs15 billion a month under the arrangement, which the government says averted a planned increase of about Rs15 per litre at the retail level.
What the fuel price cut means for consumers
The reduction comes at a welcome moment for households. Pakistan’s headline inflation eased to 9.61 per cent in October, its third consecutive monthly decline, and cheaper fuel feeds directly into transport costs, which had quickened to 28.61 per cent in the same month.
Transporters, ride-hailing drivers and goods carriers all run on diesel, so a Rs7.76 per litre cut could soften fare and freight pressure in the coming days. Food prices, which eased to 7.74 per cent in October, also depend heavily on transport costs — every major price swing at the pump eventually shows up in market rates.
That said, the relief is modest for now, and the daily pricing mechanism means rates can move in either direction with international markets. Whether this marks the start of a downward trend or a one-day reprieve will depend on global oil prices and how long the refinery-support arrangement stays in place.
For now, motorists filling up on Tuesday will pay Rs374.51 for every litre of petrol and Rs395.20 for every litre of high-speed diesel — the lowest pump prices Pakistan has seen in weeks.
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