Govt hikes petrol price by Rs2.02, slashes diesel by Rs3.59 per litre

The federal government has increased the ex-depot price of motor spirit by Rs2.02 to Rs391.30 per litre and reduced high-speed diesel by Rs3.59 to Rs408.53 per litre, with the revised prices taking effect from September 26. The change was made under the petroleum pricing mechanism issued by the federal government, and the Oil and Gas Regulatory Authority revised the prices on the basis of global market developments, including changes in Platts rates, premiums and incidentals, according to the Petroleum Division. The revised prices are to remain in force from September 26 to September 28, 2026.

In the previous review, the government had reduced the prices of high-speed diesel by Rs2.63 to Rs412.12 per litre and petrol by Re0.84 to Rs389.28 per litre.

Meanwhile, oil prices fell more than 1% earlier in the day as markets weighed the possibility of a truce between the US and Iran against concerns that increasing attacks on Saudi Arabia by Houthi fighters could disrupt supply from the key Middle Eastern producer. Brent was down $1.34, or 1.3%, at $105.26 a barrel at 1215 GMT, while West Texas Intermediate was $1.83, or 1.9%, lower at $92.78 a barrel. For the week so far, Brent has gained 1.5% and WTI has dropped 7.4%.