Petrol up Rs1.54, diesel up Rs2.16 per litre for October 27
The federal government raised petrol to Rs379.25 per litre and high-speed diesel to Rs395.82 for Tuesday, October 27. The change was notified by the Petroleum Division under the daily pricing mechanism.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- Petrol rises Rs1.54 to Rs379.25 per litre
- High-speed diesel rises Rs2.16 to Rs395.82 per litre
- New rates apply from October 27 under daily pricing
The federal government on Monday increased the price of petrol by Rs1.54 per litre and that of high-speed diesel (HSD) by Rs2.16 per litre, effective Tuesday, October 27, according to a Petroleum Division notification.
Petrol moves from Rs377.71 to Rs379.25 per litre, while HSD goes from Rs393.66 to Rs395.82 per litre, Business Recorder reported. The Petroleum Division said the Oil and Gas Regulatory Authority (OGRA) revised ex-depot prices under the federal government's pricing mechanism.
OGRA linked the adjustment to developments in international markets, including changes in Platts benchmark rates, premiums and incidental costs, Daily Pakistan reported. Express News said the new rates apply after midnight.
Diesel users have now seen two increases in a row. From October 24 to October 26, the government raised HSD by Rs1.91 per litre and left petrol unchanged. Together, the two revisions have added Rs4.07 per litre to diesel, according to Daily Pakistan.
The government announced on July 17 that petroleum prices would be reviewed and notified daily instead of weekly, as renewed tensions between the United States and Iran drove volatility in global oil markets, The Express Tribune reported. Minute Mirror reported that the government continues to collect Rs114 per litre in taxes and duties on petroleum products.
In global markets on Monday, Brent crude futures were at $117.21 per barrel and US West Texas Intermediate at $102.92 at 12:51pm ET, according to the Tribune. Daily Pakistan, citing an earlier point in the session, gave Brent at $114.70 and WTI at $100.71. Both reports said continued attacks on Saudi Arabia kept prices near six-month highs.
The Tribune also noted that on September 13 the prime minister announced Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars up to 800cc, covering an estimated 11.8 million beneficiaries, and that austerity measures including 9pm shop closing times were reintroduced on September 17.
Why it matters
Fuel prices feed directly into transport and food costs for households across Pakistan, and diesel has now risen in two successive revisions.
