Govt hikes petrol price, reduces diesel rate

The federal government on Thursday increased the price of petrol by Rs3. 26 per litre while reducing the price of high-speed diesel (HSD) by Rs1. 01 per litre for October 2, 2026. According to the revised prices notified by the Oil and Gas Regulatory Authority (OGRA), petrol will cost Rs390. 66 per litre, up from Rs387. 40. The price of diesel has been reduced to Rs399. 34 per litre from Rs400. 35. The Petroleum Division said the revision was made under the petroleum pricing mechanism notified by the federal government. It said changes in global market conditions, including Platts rates, premiums and incidentals, necessitated the adjustment in petroleum prices. The revised rates will remain effective on October 2 under the government’s petroleum pricing mechanism. On Wednesday, the government had reduced petrol by 14 paise per litre and diesel by Rs1. 89. The cuts brought petrol and diesel prices to Rs387. 40 and Rs400. 35, respectively. Oil prices rise in global market Meanwhile, oil prices rose around 2% on Thursday after China suspended oil product exports, potentially tightening fuel markets already facing global supply shortages. Investors were also assessing diplomatic efforts to end the US-Israeli war on Iran. The front-month December Brent crude futures contract was trading at $99. 77 a barrel at 1312 GMT, up $1. 70, or 1. 8%, from Wednesday’s close. The November Brent contract expired on Wednesday after settling at $103. 50 a barrel. It recorded a monthly gain of around 14% in September. US West Texas Intermediate crude rose 37 cents, or 0. 4%, to $90. 79 a barrel, after trading near $93 earlier in the session.

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