Government slashes petrol and diesel prices by Rs8 and Rs7
The federal government reduced petrol and high-speed diesel prices effective Wednesday in a move following global oil market shifts.
New retail prices take effect
Oil and Gas Regulatory Authority officials announced the price cuts on Tuesday. Petrol will now retail at Rs338 per litre while high-speed diesel costs Rs371. These rates replace previous figures of Rs346 for petrol and Rs378 for diesel. The changes apply to all consumers across the country starting November 11, 2026.
Global markets drive local cuts
International crude benchmarks fell sharply on Tuesday after US officials downplayed military action against Iran. Brent futures dropped 2.1 percent to $90.64 a barrel while WTI crude reached $85.41. This global slide allowed the government to adjust domestic ex-depot prices under its approved mechanism. The federal ministry previously fixed prices daily due to ongoing hostilities between Iran and the US.
Relief scheme covers small vehicles
The Prime Minister launched a fuel relief scheme on September 17 for motorcycles and rickshaws. This initiative targets owners of vehicles up to 800cc capacity to ease public burdens. Oil refineries also contribute Rs15 billion cumulatively over thirty days to support the levy reduction. Markets must close by 9pm as part of broader austerity measures introduced earlier this year.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Dawn
- Business Recorder
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2 independent outlets. Headlines as published. Links open the original report.