Pakistan cuts fuel prices as government trims petrol, diesel rates
Pakistan lowers retail fuel prices again from November 12 as the government reduces petrol by Rs3 per litre and high-speed diesel by Rs7 per litre. The move comes after an earlier cut and keeps domestic pricing adjustments in focus even as global oil prices rise on renewed supply concerns.
Highlights
- Pakistan reduces petrol to Rs335 per litre and high-speed diesel to Rs364 per litre effective November 12 according to Oil and Gas Regulatory Authority.
- International oil prices rise roughly 2%, with Brent at $93.64 and WTI at $87.73 per barrel after Iran’s nuclear statement sparks supply concerns.
- Higher global crude benchmarks signal that Pakistan's ability to sustain lower domestic fuel prices will depend on future international market developments.
Revised fuel rates take effect
As reported by Business Recorder, citing the Oil and Gas Regulatory Authority, the revised ex-depot prices take effect on November 12 under the petroleum products pricing mechanism approved by the federal government. Petrol is reduced to Rs335 per litre, while high-speed diesel is adjusted to Rs364 per litre.The latest revision extends the government’s recent pattern of lowering domestic fuel prices despite volatility in international energy markets. Fuel pricing remains a sensitive issue for households, transport operators and businesses because of its direct effect on operating costs and inflation.
Global oil rise clouds domestic relief
International oil prices are moving higher, complicating the outlook for future local price adjustments. Oil rises about 2% after Iran’s security chief says Tehran will not allow enriched nuclear material to leave the country, adding supply concerns and lifting prices from two-month lows.Brent futures are up $2.15, or 2.35%, at $93.64 a barrel, while U.S. West Texas Intermediate crude gains $1.69, or 1.96%, to $87.73. The increase in benchmark prices suggests that any continued relief in Pakistan’s domestic fuel rates may depend on how global crude markets develop in the coming pricing cycle.
We have previously noted Pakistan’s October fuel revision, when petrol rose slightly while high-speed diesel edged lower under the pricing mechanism.
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