Petrol Price Falls to Rs346 a Litre in Pakistan as a Week of Cuts Brings Rs31.91 Relief

Petrol is cheaper in Pakistan again. The federal government has cut the price of petrol by Rs6.59 a litre and high-speed diesel by Rs4.25 a litre, taking petrol down to Rs346 a litre and diesel to Rs378 a litre from Saturday, 7 November 2026.

It is the latest step in a remarkable week for fuel prices. In just seven days, petrol has fallen by Rs31.91 a litre and diesel by Rs24.96 a litre, giving drivers, transporters and businesses real relief after months of high pump prices.

The new prices were announced by the Oil and Gas Regulatory Authority (OGRA) on Friday, 6 November. They took effect on Saturday, 7 November, and OGRA said they would remain in force from 7 to 9 November.

What are the new petrol and diesel prices?

Here is what changed at the pump:

Fuel	Old price (per litre)	New price (per litre)	Change
Petrol	Rs352.59	Rs346	Down Rs6.59
High-speed diesel	Rs382.25	Rs378	Down Rs4.25

The cut follows another reduction only a day earlier, when petrol had fallen by Rs9.41 a litre to Rs352.59. In other words, petrol has now been cut twice in two days — first to Rs352.59, and then to Rs346.

For most drivers, the latest cut is modest on its own. A motorbike rider who buys 20 litres of petrol a month will save about Rs132 a month from this cut alone. A car owner who uses 100 litres a month will save about Rs659. But added to the cuts earlier in the week, the savings are now large enough to notice.

A week of falling fuel prices

The bigger story is not one cut, but the whole week. According to official petroleum price data, petrol has fallen from Rs377.91 a litre on 31 October to Rs346 on 7 November — a drop of Rs31.91 a litre in a single week. Diesel has fallen from Rs402.96 to Rs378 over the same period, a drop of Rs24.96 a litre.

That means a motorbike rider buying 20 litres a month is now paying about Rs638 less per month for the same fuel than at the end of October. A small car using 100 litres a month is saving about Rs3,191 a month. For truck owners and bus operators, who buy fuel by the hundreds of litres, the difference runs into thousands of rupees.

The fall is not a one-off decision by the government. It is the result of a new way of setting fuel prices, under which pump prices are reviewed far more often than before — and international oil prices have been falling at the same time.

Why are fuel prices falling?

Fuel prices in Pakistan are closely linked to the price of oil in the world market. When international prices fall, Pakistan’s pump prices should fall too — and that is what is happening now.

The Platts Arab Gulf Mean, the benchmark used for petrol pricing, dropped from $120.56 a barrel to $101.92 a barrel during the week. The Dubai crude benchmark used for diesel pricing fell from $115.75 to $104.34 a barrel. These falling benchmarks are the main reason pump prices have come down so sharply.

The government says taxes and margins have not changed. The petroleum levy stands at Rs80 a litre, the Climate Support Levy at Rs5 a litre, and sales tax on both petrol and diesel remains zero. The margins for oil marketing companies (Rs7.87 a litre) and dealers (Rs9.98 a litre) are also unchanged. In simple terms, the whole reduction comes from cheaper oil in the world market, not from the government giving up tax revenue.

How the new daily pricing system works

The speed of the cuts is possible because Pakistan has changed how it sets fuel prices. Until recently, prices were revised every two weeks. That changed after the outbreak of the Israel-Iran conflict in February, which was followed by US involvement and disruption to energy shipments through the Strait of Hormuz. The government first moved to weekly reviews, and has now gone further: OGRA has begun publishing daily petroleum prices on its website so that changes in world oil prices reach consumers more quickly.

The federal cabinet approved the changes to the pricing formula on 30 October, in the middle of the current volatility in global oil markets. Under the revised formula:

• The import price of petrol is worked out from the actual cost of the relevant Pakistan State Oil (PSO) cargo. If that cost is not available for daily pricing, the premium, incidentals and customs duty of the last available cargo are used instead.
• For local refineries, the government has temporarily fixed the premium, incidentals and customs duty used in working out the ex-refinery petrol price at their 7 March 2026 levels — the levels before the war — for 30 days.
• The difference between the import price and the resulting ex-refinery price is to be surrendered by refineries under the petroleum levy account, with the benefit passed on to consumers through a lower petrol price.
• A short-term adjustment has also been introduced to smooth out sharp movements in petrol prices, bringing the benefit from a premium difference into prices at a rate of $2.95 per barrel per day.

In plain language, the new system is designed to pass falling world prices to drivers faster, while using refinery savings to soften the blow when prices rise.

What the relief means for your wallet

Fuel is one of the biggest costs in daily life in Pakistan. It affects the price of almost everything, because buses, trucks, rickshaws and delivery bikes all run on it. When fuel gets cheaper, transport gets cheaper — and that can help slow down the rising cost of living.

Here is what the week’s fall is worth in simple terms:

• Motorbike riders: 20 litres a month now costs about Rs638 less than it did on 31 October.
• Small car owners: 100 litres a month now costs about Rs3,191 less.
• Bus and truck operators: a vehicle using 500 litres a month saves about Rs15,955 on petrol or about Rs12,480 on diesel compared with a week ago.
• Transport and delivery businesses: lower diesel prices cut the cost of moving goods, which can help keep the prices of food and other essentials steadier.

The relief is even bigger for the people covered by the government’s targeted fuel subsidy. Under the Sasta Petrol scheme, eligible motorcycle, rickshaw and small-car users get Rs100 off every litre of petrol, up to 20 litres a month for two- and three-wheelers and 30 litres a month for cars up to 800cc. With petrol now at Rs346, an eligible motorbike rider pays only Rs246 a litre within the monthly quota.

Prime Minister Shehbaz Sharif has announced that the subsidy programme will continue until at least the end of December 2026. The government has spent around Rs28 billion on the scheme so far, and it says the programme has directly supported about 15 million people. The Prime Minister has credited Petroleum Minister Ali Pervaiz Malik, his team, OGRA and the relevant committee with securing the arrangement, which involved working with refineries to prevent a proposed Rs15 a litre increase in petrol prices.

Will prices keep falling?

That depends on the world oil market. The daily pricing system means pump prices can now move up as quickly as they move down. If international oil prices keep falling, Pakistani drivers will see more relief in the coming days. If world prices rise again — for example, if tensions in the Middle East worsen or shipments through the Strait of Hormuz are disrupted — prices could go back up just as fast.

For now, though, the direction is clear. Petrol has fallen by more than Rs31 a litre in a week, diesel by nearly Rs25, and the government has promised that the targeted Rs100-a-litre relief for small vehicles will stay in place until at least the end of the year. For millions of Pakistanis who depend on a motorbike, a rickshaw or a bus to get to work, that is welcome news.

Frequently asked questions

What is the new petrol price in Pakistan?

Petrol now costs Rs346 a litre, down from Rs352.59. High-speed diesel costs Rs378 a litre, down from Rs382.25. The new prices took effect on Saturday, 7 November 2026.

How much has petrol fallen in the last week?

Petrol has fallen by Rs31.91 a litre in the week ending 7 November, from Rs377.91 on 31 October to Rs346. Diesel has fallen by Rs24.96 a litre, from Rs402.96 to Rs378, over the same period.

Why are petrol prices falling in Pakistan?

World oil prices have fallen sharply. The Platts Arab Gulf Mean benchmark for petrol dropped from $120.56 to $101.92 a barrel during the week, and the Dubai crude benchmark for diesel fell from $115.75 to $104.34 a barrel. Pakistan’s new daily pricing system passes those falls to consumers quickly.

What is the Sasta Petrol scheme and who qualifies?

The Sasta Petrol scheme gives eligible users Rs100 off every litre of petrol — up to 20 litres a month for motorcycles, rickshaws and other two- and three-wheelers, and up to 30 litres a month for cars up to 800cc. Registration is by sending an SMS to 9771. The scheme will continue until at least the end of December 2026.

How much tax is included in the petrol price?

The petroleum levy is Rs80 a litre and the Climate Support Levy is Rs5 a litre. Sales tax on petrol and diesel is zero. These levies have not changed in the latest price revision.

How often will fuel prices change now?

OGRA has begun publishing daily petroleum prices, so prices can now change far more often than the old fortnightly system allowed. The government moved to weekly reviews earlier this year and has now adopted daily pricing to pass world market changes to consumers faster.

The bottom line

Petrol at Rs346 a litre is the cheapest it has been in weeks, and the Rs31.91 fall over the past seven days is one of the sharpest drops Pakistani drivers have seen. Falling world oil prices, a new daily pricing system and the extension of the Rs100-a-litre targeted relief until the end of December all point the same way: real savings at the pump. The question now is whether world oil prices stay low — because under daily pricing, the next move could come as quickly as this one did.

Sources

• The News — “Petrol price cut by Rs6.59 per litre, diesel by Rs4.25”: https://www.thenews.pk/story/1427144-petroleum-rates-in-pakistan-today
• PK Revenue — “Pakistan Petrol Price Drops by Rs31.91 Per Litre”: https://pkrevenue.com/pakistan-petrol-price-cut-november-7-2026/
• Bloom Pakistan — “Petrol, Diesel Prices Cut for Third Time in a Row in Pakistan”: https://bloompakistan.com/petrol-diesel-prices-slashed-for-third-time-in-a-row-in-pakistan/
• Bloom Pakistan — “PM Shehbaz Extends Fuel Subsidy Programme After Rs. 28 Billion Spending”: https://bloompakistan.com/pm-shehbaz-extends-fuel-subsidy-programme-after-rs-28-billion-spending/
• Pak Observer — “Petrol Becomes Cheaper by Rs 6.59 and Diesel by Rs 4.25 per Liter”: https://pakobserver.com.pk/business/petrol-becomes-cheaper-by-rs-6-59-and-diesel-by-rs-4-25-per-liter/

This article is for general information and education only. It is not legal or financial advice.