Petrol price in Pakistan cut by Rs3.40 to Rs374.51, diesel down Rs7.76 to Rs395.20 from November 3
Petrol is now Rs374.51 a litre and diesel Rs395.20 after a cut from November 3, helped by refineries giving up about Rs15 billion a month to the government.
At a glance
- Petrol now costs Rs374.51 per litre, down Rs3.40 from Rs377.91. High-speed diesel costs Rs395.20, down Rs7.76 from Rs402.96.
- The new prices took effect on Tuesday, November 3, replacing rates set only on October 31.
- The government changed the pricing formula so local refineries hand over the gap between import and ex-refinery prices as petroleum levy, a cost put at about Rs15 billion a month.
- The levy on petrol was cut from Rs80 to Rs65.29 per litre; officials say petrol is about Rs15 a litre cheaper than world prices alone would allow.
Petrol in Pakistan now costs Rs374.51 a litre, Rs3.40 less than before, and high-speed diesel has dropped Rs7.76 to Rs395.20. The new prices took effect on Tuesday, November 3, under a notification issued on Monday night, and they replace rates that had been in force only since October 31.
The cut is small at the pump, but diesel's bigger drop matters more for the wider economy. Diesel runs Pakistan's trucks, buses, tractors and tube wells, so it feeds into the price of almost everything that has to be moved or grown.
The new rates at a glance
| Product | Old price (per litre) | New price (per litre) | Change |
|---|---|---|---|
| Petrol | Rs377.91 | Rs374.51 | −Rs3.40 |
| High-speed diesel | Rs402.96 | Rs395.20 | −Rs7.76 |
The Oil and Gas Regulatory Authority announced the ex-depot prices. Retail prices at individual pumps can differ slightly by city because of freight and dealer margins.
What it saves you on a full tank
| Vehicle | Typical fill | Saving at the new price |
|---|---|---|
| Motorcycle (petrol) | 10 litres | Rs34 |
| Small car (petrol) | 35 litres | Rs119 |
| Family car (petrol) | 45 litres | Rs153 |
| Pick-up or van (diesel) | 60 litres | Rs466 |
| Truck (diesel) | 200 litres | Rs1,552 |
Petrol is still far above where it stood before the war with Iran began in late February. A cut of a few rupees rarely changes bus fares or freight charges on its own; those usually follow only when prices fall for several revisions in a row.
How refineries are paying for part of the cut
The relief does not come only from cheaper oil. From the October 31 revision, the government changed the petrol pricing formula. Local refineries sell petrol at an ex-refinery price that sits below the cost of imported fuel. They must now hand over that difference to the government as petroleum levy, instead of keeping it as margin, and the benefit is passed to consumers.
Officials put the cost to refineries at about Rs15 billion a month. Because local refineries make only about 30% of the petrol Pakistan uses, that burden falls on a fairly small part of total supply. Officials described the arrangement as temporary, for about a month, and said the government wants to return to its deregulation policy once markets settle.
At the same time, the government cut the petroleum levy on petrol from Rs80 a litre to Rs65.29. Officials say the two steps together keep petrol about Rs15 a litre cheaper than global prices alone would justify.
The pressure on import costs is real. Premiums and freight on petrol cargoes rose to $25.52 a barrel from $19.88, as tankers avoid or pay heavily to pass near the Strait of Hormuz. Refineries agreed to the arrangement after reporting strong profits from the same price spike.
Why prices could swing again soon
Pakistan imports most of its fuel, and the war around Hormuz has made world prices unusually jumpy. Brent crude fell more than 7% on Monday on hopes of a US-Iran deal, then recovered to above $106 on Tuesday after Iran said it was still waiting on Washington.
That means the next revision could go either way. A deal that reopens the strait would bring a much bigger cut than this one. A collapse in talks would erase it. The government is also bound by IMF commitments on the petroleum levy, which limits how far it can cut taxes to cushion prices.
The refinery arrangement is due to be reviewed in about 30 days, and the next price notification will come with OGRA's next scheduled revision.
Questions people are asking
What is the petrol price in Pakistan today?
From November 3, 2026, petrol costs Rs374.51 per litre and high-speed diesel Rs395.20 per litre, according to the Oil and Gas Regulatory Authority.
Why did petrol become cheaper in Pakistan?
The government lowered the petroleum levy and made local refineries pass on the difference between import and refinery prices, which officials say keeps petrol about Rs15 a litre below what global costs would require.
