The federal government has revised fuel prices for the second time this week. The petrol price Pakistan October 23 will see is lower, while diesel has become more expensive. In the notification issued late on Thursday, the government reduced the price of petrol by Rs1.60 per litre and increased the price of high-speed diesel (HSD) by Rs1.64 per litre, effective Friday, 23 October 2026.
According to the press release issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the federal government’s pricing mechanism. Following the revision, petrol now costs Rs377.71 per litre, down from Rs379.31, while high-speed diesel has risen from Rs390.11 to Rs391.75 per litre. The story was first carried on Thursday night by Aaj English TV and Geo News.
Petrol Price Pakistan October 23: The New Rates in Full
Here are the revised ex-depot rates taking effect on 23 October 2026:
- Petrol: Rs377.71 per litre (down Rs1.60 from Rs379.31)
- High-speed diesel (HSD): Rs391.75 per litre (up Rs1.64 from Rs390.11)
The petrol price Pakistan October 23 motorists will pay is the second cut in as many days. In the previous revision announced on Wednesday, the government had reduced petrol by Rs2.71 to Rs379.31 per litre while nudging diesel up by 31 paisa to Rs390.11. Thursday’s move extends the petrol relief further, though the diesel increase has wiped out part of the benefit for transporters. For context on how these daily changes work, see our guide to the petrol price in Pakistan, and our coverage of the petrol price cut of 20 October.
How Pakistan’s Daily Fuel Price Mechanism Works
Petrol and diesel prices in Pakistan are no longer revised every two weeks. The federal cabinet has approved a daily fuel pricing framework under which OGRA issues fresh ex-depot prices for petrol and high-speed diesel every day, based on the average international market prices recorded over the previous seven days.
Petroleum Minister Ali Pervaiz Malik has said the daily prices are calculated from a seven-day average of international market prices, in line with international practice. Under the new framework, the regulator is authorised to announce daily prices without requiring prior approval from the prime minister or the federal government. Prices notified on Fridays remain unchanged over the weekend, so the rates announced for 23 October will hold through Saturday and Sunday.
The framework also sets guardrails: OGRA publishes daily Platts reference prices, the petroleum levy cannot exceed the limit approved by the federal cabinet, and any change in the levy rate itself requires approval from the Finance Division. Pakistan moved to the daily mechanism in July 2026 after months of volatile global oil markets driven by renewed hostilities in the Middle East.
Global Oil Prices at a Five-Month High
The backdrop to this week’s revisions is a jittery international oil market. On Thursday, international oil prices climbed about 2 per cent to a five-month high, as attacks in Saudi Arabia fuelled concerns about further disruptions to energy supplies from the region.
Brent crude futures rose $2.42, or 2.2 per cent, to $111.24 a barrel, while US West Texas Intermediate (WTI) crude gained $1.14, or 1.2 per cent, to $98.29 a barrel. Brent entered technically overbought territory for the third time in a week and was on track for its highest close since May. When global benchmarks climb, Pakistan’s import bill follows — and the daily pricing mechanism passes those movements to consumers far faster than the old fortnightly system did.
Petroleum Levy: The Friday Meeting That Could Reshape the Debate
Friday is set to be a busy day on the fuel front beyond the price notification itself. Jamaat-i-Islami (JI) has announced 150 sit-ins across Pakistan on 23 October as part of the third phase of its movement against the petroleum levy, and the government is scheduled to meet JI leaders the same day to discuss the levy.
The talks put possible fuel-tax relief back in focus, though previous rounds of negotiations have ended without a breakthrough. The meeting itself does not mean the petroleum levy will be reduced or abolished — the two sides still have to agree on the scale of any cut, how it would be financed, and whether it fits within Pakistan’s broader fiscal commitments. Motorists should also note that the planned nationwide sit-ins could disrupt traffic in major cities on Friday.
What the Petrol Price Pakistan October 23 Change Means for You
For ordinary motorists, the Rs1.60 petrol cut offers marginal relief. Filling a 40-litre car tank now costs Rs64 less than on Wednesday; for motorcyclists and rickshaw drivers, the saving per tank is smaller but welcome. Because Friday’s notified prices hold through the weekend, drivers planning weekend travel can rely on the new rates.
The other side of the ledger is less pleasant. High-speed diesel powers trucks, buses, tractors and tube-wells, so the Rs1.64 increase feeds directly into transport costs, freight charges and farming expenses — costs that eventually reach consumers through higher prices for goods and produce.
The broader trend is worth watching too. Under the daily pricing system, every movement in international markets shows up at Pakistani pumps within days. With Brent at a five-month high, the current petrol relief could prove short-lived if global tensions persist. Check the rates daily before long trips — and if the government and JI reach any agreement on the petroleum levy, we will update this story with the verified details.
Sources: Aaj English TV; Geo News; Business Recorder.
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