Pakistan raises diesel price for three days, keeps petrol unchanged
Pakistan has revised domestic fuel prices again, lifting the rate of high-speed diesel while leaving petrol unchanged from October 31. The adjustment applies only through November 2, underscoring the government’s short review window as global oil market volatility persists.
Highlights
- Pakistan's Oil and Gas Regulatory Authority raises ex-depot diesel price by Rs2.29 to Rs402.96 per litre for October 31–November 2, while petrol remains Rs377.91.
- Diesel price adjustment responds to global market developments, including changes in Platts rates and supply chain premiums and incidentals, per OGRA statement.
- Brent crude December futures rise $2.74 (2.4%) to $117.62 per barrel amid escalating Middle East tensions and tanker attack in the Strait of Hormuz.
Revised fuel rates for October 31 to November 2
As reported by Business Recorder, citing the Oil and Gas Regulatory Authority, the ex-depot price of high-speed diesel rises by Rs2.29 per litre to Rs402.96 from Rs400.67, while petrol remains unchanged at Rs377.91 per litre. The revised prices take effect on October 31, 2026, and remain in place until November 2 under the federal government’s petroleum pricing mechanism.OGRA says the latest adjustment is driven by global developments, including changes in Platts rates, premiums and incidentals. The move follows another increase announced a day earlier, when the government raised diesel by Re0.85 per litre to Rs400.67 and also kept petrol unchanged.
Global oil volatility adds pressure to Pakistan market
International crude prices rise on Friday and are on track for a fourth monthly gain as traders brace for a possible escalation in the U.S.-Iran conflict after U.S. midterm elections. An attack on a tanker in the Strait of Hormuz also highlights supply risks linked to the war.Brent crude futures for December, which expire on Friday, are up $2.74, or 2.4%, at $117.62 a barrel as of 1045 GMT. The more active January Brent contract gains $2.78 to $113.58, while U.S. West Texas Intermediate crude futures climb $2.18, or 2.1%, to $104.18.
Our earlier article on the surge in crude oil shipping costs explained how conflict-related risks and attacks on key routes like the Strait of Hormuz and the Red Sea have driven tanker and insurance rates sharply higher. We noted that freight has become a much larger component of the delivered oil price, adding to pump prices and broadening inflation pressure for import-dependent markets.
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