ISLAMABAD, November 5, 2026 — The federal government has reduced petrol prices by Rs7.06 per litre and high-speed diesel (HSD) by Rs3.71, providing some relief to consumers amid fluctuations in international oil markets.
Following the latest revision, petrol is priced at Rs362 per litre, while high-speed diesel costs Rs387.81 per litre, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA).
The reduction marks the third consecutive cut in petroleum prices, as international crude oil prices declined amid changing geopolitical developments and uncertainty surrounding the conflict involving the United States, Israel and Iran.
According to market data cited in the report, Brent crude futures fell by 4.3 per cent to $99.07 per barrel, while US West Texas Intermediate crude declined by 4.3 per cent to $92.02 per barrel.
The government continues to collect taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel.
Under a 30-day arrangement announced earlier in the week, oil refineries will contribute a cumulative Rs15 billion towards the petroleum levy. The arrangement is intended to provide additional relief to consumers through lower fuel prices.
Petroleum Minister Ali Pervaiz Malik has also indicated that the government is exploring a similar mechanism for liquefied petroleum gas (LPG).
Meanwhile, Jamaat-i-Islami and government representatives are scheduled to hold another round of talks on petroleum price relief.
Fuel Prices and Economic Impact
Changes in petrol prices directly affect household transport expenses, particularly for motorcyclists, private vehicle owners and users of public transport. Diesel prices also influence freight charges, agricultural operations, power generation and the cost of transporting essential goods.
The government has previously introduced austerity measures in response to rising fuel costs, including restrictions on market closing times and reductions in official vehicle fuel allocations.
Although the latest reductions offer some relief, future petroleum prices will remain sensitive to international crude oil movements, geopolitical developments and government pricing decisions.
