Petrol falls to Rs395.37 per litre while high-speed diesel rises to Rs396.85 under the daily fuel pricing mechanism based on a seven-day average of international oil prices.
ISLAMABAD: The federal government on Monday reduced the price of petrol by Rs2.93 per litre while increasing the rate of high-speed diesel (HSD) by 61 paisas for October 13, 2026, amid fluctuations in international oil markets.
Following the revision, petrol will be available at Rs395.37 per litre, down from Rs398.30, while high-speed diesel will cost Rs396.85 per litre, compared with the previous rate of Rs396.24.
A notification issued by the Petroleum Division announced the revised prices under the government’s daily petroleum pricing mechanism.
The Oil and Gas Regulatory Authority (OGRA) has also started publishing daily petroleum prices on its website to improve transparency and ensure that changes in international oil prices are passed on to consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily fuel prices were calculated using a seven-day average of international market rates, in line with international practice.
Revised petrol and diesel prices
The following rates have been announced under the daily pricing mechanism:
| Petroleum product | Previous price | Revised price | Change per litre |
| Petrol | Rs398.30 | Rs395.37 | -Rs2.93 |
| High-speed diesel | Rs396.24 | Rs396.85 | +Rs0.61 |
Government adopts daily fuel pricing mechanism
The government introduced the daily fuel price review mechanism amid volatility in global oil markets and renewed hostilities in the Middle East.
Before the change, petroleum prices were revised fortnightly. The government subsequently introduced weekly reviews following the outbreak of conflict in the Middle East on February 28, when Israel and the United States attacked Iran, prompting Tehran to close the Strait of Hormuz.
The strategic waterway was previously a key route for around one-fifth of global energy supplies.
Tensions have continued following the collapse of a fragile June truce between Tehran and Washington, raising concerns about further disruption to regional stability and energy shipments.
OGRA authorised to announce daily fuel prices
An official document outlined details of the federal cabinet-approved petroleum pricing framework, under which OGRA will determine and announce daily ex-depot prices for petrol and high-speed diesel.
Under the mechanism, prices will be calculated using the average international market rates recorded over the preceding seven days.
The regulator can announce daily prices without obtaining prior approval from the prime minister or the federal government. However, prices notified on Fridays will remain unchanged on Saturdays and Sundays.
The document also stated that OGRA would publish daily Platts reference prices from July 1, 2026.
Petroleum levy remains subject to government approval
The framework stipulates that the petroleum levy cannot exceed the limit approved by the federal cabinet.
Any change in the levy rate will require approval from the Finance Division.
The daily pricing mechanism is intended to improve transparency in petroleum price determination and enable domestic fuel rates to respond more promptly to movements in international oil markets.