Petrol Falls to Rs386.30, Diesel Holds at Rs396.96

ISLAMABAD: The federal government on Friday lowered petrol prices by Rs3.93 per litre to Rs386.30, while maintaining the price of high-speed diesel (HSD) at Rs396.96 per litre. The revised rates will apply from October 17 to October 19, 2026.

According to a statement released by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) adjusted the ex-depot rates of petroleum products in accordance with the federal government's fuel pricing mechanism.

The division said the latest revision reflected international market developments, including changes in Platts rates, premiums and incidental costs.

The new prices will remain applicable for three days, covering the weekend and Monday.

In the preceding price adjustment, petrol had been reduced by Rs3.63 per litre to Rs390.23, whereas HSD had become more expensive by Re0.31, reaching Rs396.96 per litre.

Meanwhile, global oil prices were relatively stable on Friday but remained on course for weekly gains as uncertainty surrounding Middle Eastern supplies persisted alongside a larger-than-anticipated reduction in US crude inventories.

European diesel refining margins, however, weakened after the International Energy Agency (IEA) announced plans to release additional diesel supplies.

At 1107 GMT, Brent crude futures had gained 36 cents, or 0.34%, to reach $106.28 per barrel. In contrast, US West Texas Intermediate (WTI) crude futures declined by 19 cents, or 0.19%, to $97.78 per barrel.