Petrol prices remain unchanged at Rs377.91 per litre as the government reduces petroleum levy collections, transferring an estimated Rs9.4 billion pre-tax burden to local refineries for November 2026.

The government has shifted the impact of higher petrol import costs to local refineries to protect consumers from a price increase, according to the petroleum pricing notification issued on October 31, 2026.

The ex-refinery motor spirit (MS) price increased by Rs15.13 per litre to Rs282.26. However, the government reduced the petroleum levy by Rs14.71 per litre and the Inland Freight Equalisation Margin (IFEM) by Rs0.42, keeping the ex-depot petrol price unchanged at Rs377.91 per litre.

According to Arif Habib Limited analysts, local refineries, excluding PARCO, face an estimated financial burden of Rs9.4 billion before tax, equivalent to Rs5.9 billion after tax. The arrangement will remain effective for 30 days and analysts have assumed its impact for November 2026 only.

Attock Refinery Limited (ATRL) faces the largest estimated post-tax per-share impact of Rs19.35, representing 34.8% of the sector’s total burden.

National Refinery Limited (NRL) accounts for 16.9%, with an estimated impact of Rs12.51 per share.

Cnergyico PK Limited (CNERGYCO) represents 28.3% of the burden, although its estimated post-tax impact is Rs0.31 per share.

Pakistan Refinery Limited (PRL) accounts for 20% of the sector’s burden, with an estimated post-tax impact of Rs1.188 billion, or Rs1.89 per share.