The federal government on Wednesday notified a fresh increase in petroleum prices, raising petrol by Rs1.85 per litre and high-speed diesel by Rs1.75 per litre. The revised rates — petrol at Rs377.91 per litre and diesel at Rs399.82 per litre — took effect on Thursday, October 29, 2026, under the Petroleum Division’s daily price-review mechanism.
According to the official notification issued by the Petroleum Division, the adjustment reverses the previous day’s reduction in petrol prices and pushes diesel to within a whisker of the Rs400 mark. The announcement was reported by the Associated Press of Pakistan, Dawn and Geo News on October 28.
New Petrol and Diesel Prices from October 29
The October 29 revision changes the ex-depot prices that oil marketing companies and dealers use nationwide. A full comparison of the new and previous rates:
| Product | Previous price (Oct 28) | New price (Oct 29) | Change |
|---|---|---|---|
| Petrol (Motor Spirit) | Rs376.06 | Rs377.91 | +Rs1.85 |
| High-Speed Diesel | Rs398.07 | Rs399.82 | +Rs1.75 |
| Kerosene Oil | Rs326.75 | Rs330.96 | +Rs4.21 |
| Light Diesel Oil | Rs267.46 | Rs275.24 | +Rs7.78 |
The same prices apply uniformly in Karachi, Lahore, Islamabad, Peshawar and Quetta. The October 29 rates include Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel, according to government disclosures.
Daily Pricing Mechanism Since July 2026
Pakistan shifted to daily petroleum price revisions on July 17, 2026, replacing the earlier weekly system. Petroleum Minister Ali Pervaiz Malik has said daily prices are calculated using a seven-day average of international market rates, in line with international practice, so that global oil movements are passed on to consumers immediately rather than accumulated for a fortnightly announcement.
Under the daily framework, prices change nearly every day — price archives show 22 changes across 23 notifications in October alone — and rates hold steady only on weekends and public holidays. The government says the mechanism improves transparency, though transport bodies and dealer associations have criticised the unpredictability it creates for businesses.
What the Hike Means for Consumers
The latest increase raises fuel costs for motorists, transport operators and every business that depends on petroleum products. Diesel, which powers trucks, buses and farm machinery, now sits just Rs0.18 below Rs400 per litre — a level that typically feeds into freight costs and, through them, the prices of essential goods.
To protect lower-income consumers, the government has announced a relief scheme offering a subsidy of Rs100 per litre for motorcycles, three-wheelers and cars with engines up to 800cc. The scheme is expected to cover around 11.8 million beneficiaries, with monthly relief of up to Rs2,000 for two-wheelers and three-wheelers and Rs3,000 for eligible small-car users.
Why Prices Keep Moving
Pakistan imports the bulk of its petroleum requirements, which leaves domestic pump prices exposed to international crude prices and the rupee-dollar exchange rate. The Oil and Gas Regulatory Authority (OGRA) now publishes daily petroleum prices on its website to improve transparency and speed up the transmission of international market changes to consumers.
Global market volatility has been driven by supply disruptions linked to Middle East tensions, including shipping-route concerns in the Strait of Hormuz and the Red Sea, along with OPEC+ production decisions and sanctions-related uncertainty. When international crude or freight costs rise, the increase reaches Pakistani consumers within a day under the current mechanism — and the same applies in reverse when markets ease.
The October 29 revision is the effective rate for the day and must not be treated as a forecast for subsequent days, since OGRA’s daily notifications can revise it again the next morning. Consumers and businesses can track each day’s official rates on OGRA’s website and on the urdupro.info petrol price guide.
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