The government has fixed petrol at Rs377.71 per litre and high-speed diesel at Rs391.75 for October 23, as global oil prices climb amid Middle East tensions.

Islamabad, October 23, 2026: The federal government has reduced the price of petrol by Rs1.60 per litre while increasing the price of high-speed diesel (HSD) by Rs1.64 per litre for Friday, October 23.

According to a notification issued by the Petroleum Division, petrol is now priced at Rs377.71 per litre, while high-speed diesel costs Rs391.75 per litre.

The latest revision follows Wednesday’s adjustment for October 22, when petrol prices were cut by Rs2.71 per litre and diesel prices increased by Rs0.31 per litre.

In July, the government introduced a daily petroleum pricing mechanism, replacing the previous weekly system, amid volatility in international oil markets and concerns over fuel supplies.

On September 13, Prime Minister Shehbaz Sharif announced a relief scheme offering a subsidy of Rs100 per litre on petrol for motorcycles, three-wheeled rickshaws and cars with engine capacities of up to 800cc. The initiative was designed to protect lower-income consumers from rising fuel costs.

Meanwhile, the government reintroduced austerity and fuel conservation measures in September, requiring most shops and markets to close by 9pm, marriage halls by 10pm and restaurants by 11pm, subject to specified exemptions.

International oil prices remain under pressure from geopolitical tensions and potential supply disruptions. Crude prices rose around 3% on Thursday to a five-month high after Houthi attacks in Saudi Arabia heightened concerns about energy supplies from the region.

As Pakistan imports most of its petroleum requirements, fluctuations in global oil prices and shipping costs can quickly affect domestic fuel prices and household budgets.