Petrol Price in Pakistan Falls to Rs362 a Litre After Third Cut in a Week

Petrol in Pakistan is now cheaper than it has been in weeks. The price of petrol has fallen to Rs362 a litre, and high-speed diesel now costs Rs387.81 a litre, after the government announced another cut on Wednesday, 4 November 2026. It is the third time fuel prices have been reduced in a single week, and the cuts are now happening daily rather than every two weeks.

For most people, the change is simple: filling a tank costs less than it did a few days ago. But the speed of the cuts, and the new way prices are set, tell a bigger story about how Pakistan now fixes its fuel prices — and about what is happening in the world oil market.

The new petrol prices at a glance

The Oil and Gas Regulatory Authority (OGRA) announced the new prices in a notification issued on Wednesday, 4 November. The revised rates took effect from Thursday, 5 November 2026.

Fuel	Old price	New price	Change
Petrol	Rs369.06	Rs362.00	Down Rs7.06
High-speed diesel	Rs391.52	Rs387.81	Down Rs3.71

These are ex-depot prices — the price at which fuel leaves the depot, before it is moved to petrol stations. The price you pay at the pump should match these figures, though small differences can appear between stations and cities.

Three cuts in three days

This is not a one-off cut. Fuel prices have now fallen three times in the space of a few days:

• Monday: Petrol was cut by Rs3.40 a litre to Rs374.51, and high-speed diesel fell by Rs7.76 to Rs395.20.
• Tuesday, 3 November: Petrol dropped by Rs5.45 to Rs369.06, while diesel fell by Rs3.68 to Rs391.52.
• Wednesday, 4 November (announced): Petrol fell by a further Rs7.06 to Rs362.00, and diesel by Rs3.71 to Rs387.81, effective from 5 November.

Put together, petrol has become Rs12.51 a litre cheaper in less than a week, falling from Rs374.51 to Rs362.00. Diesel has dropped by Rs7.39 over the same period, from Rs395.20 to Rs387.81.

For a driver, that adds up. A car with a 40-litre tank now costs about Rs282 less to fill with petrol than it did on 4 November, and about Rs500 less than it did at the start of the week. For a motorbike with a 10-litre tank, the saving is smaller — around Rs70 a fill compared with Wednesday’s price — but for riders who fill up several times a week, it still matters.

Why are fuel prices falling?

The main reason is what is happening in the world oil market. Global crude oil prices have fallen sharply this week. Brent crude, the international benchmark, dropped below $94 a barrel, and US crude (WTI) fell by more than 8 per cent in a single day to around $88 a barrel.

Oil traders are reacting to two big sources of uncertainty: the conflict involving the United States, Israel and Iran, and the result of the US midterm elections held on 3 November. When the outlook for the world economy and for oil supply is unclear, oil prices often swing sharply — and this week, they have swung down.

That fall in world prices is reaching Pakistani consumers faster than it used to. That is because of a change in how Pakistan sets its fuel prices.

Pakistan now fixes fuel prices daily

Until recently, Pakistan reviewed petrol and diesel prices every fortnight. That changed in July 2026, when the government moved to a daily price fixation mechanism, replacing a weekly system that had been in place since early March.

Under the daily system, OGRA works out new prices each day using international oil prices, including Platts rates, premiums and other costs, and publishes them on its website. The aim, according to Petroleum Minister Ali Pervaiz Malik, is to boost transparency and pass the full impact of world prices on to consumers immediately — both when prices fall and when they rise.

A new pricing formula also came into effect on 2 November, just before this run of cuts began. The government has said the new formula shifts part of the petroleum levy burden from consumers to refineries: under a 30-day arrangement announced earlier in the week, oil refineries will contribute a cumulative Rs15 billion towards the petroleum levy. The government is also exploring a similar arrangement for liquefied petroleum gas (LPG).

The daily system cuts both ways, and that is worth remembering. When world oil prices rise, pump prices in Pakistan can now rise the next day, instead of waiting for the next fortnightly review. This week’s cuts are good news, but they can be reversed just as quickly if world prices recover.

How much of the price is tax?

Even after three cuts, tax still makes up a large share of what you pay at the pump. Taxes and duties amount to Rs114 on every litre of petrol and Rs100 on every litre of diesel.

That means nearly a third of the Rs362 petrol price — about 31 per cent — is tax, not fuel. For diesel, taxes and duties are about 26 per cent of the Rs387.81 price.

This is why fuel prices in Pakistan do not fall as far or as fast as world oil prices. When crude oil gets cheaper, the fuel itself costs less, but the tax portion stays the same. It also means the government faces a trade-off: cutting taxes would bring prices down further, but it would also cut government revenue at a time when the state needs money.

What this means for you

If you drive a car or ride a motorbike: Your fuel bill is lower this week. The saving is modest for a single fill-up, but it grows over a month of regular driving. A car owner who uses 150 litres of petrol a month is now paying about Rs1,877 less than at the start of the week.

If you use public transport: Bus and wagon fares do not usually fall the moment fuel prices drop, but sustained lower diesel prices reduce the running costs of transport operators. If the cuts hold, passengers can reasonably ask why fares have not come down.

If you run a business that moves goods: Diesel is the fuel of trucks, and trucks move almost everything in Pakistan — food, clothes, building materials. A fall in diesel prices lowers transport costs, and over time that can ease pressure on the prices of goods in shops and markets.

If you are watching inflation: Fuel prices feed into the cost of nearly everything, because transport costs are built into the price of goods. Cheaper fuel does not bring prices down overnight, but it removes one source of upward pressure on inflation — welcome news for households that have faced high prices for a long time.

What happens next?

Because prices are now fixed daily, the next change could come as soon as tomorrow. OGRA publishes the revised prices on its website, so the best way to know the current rate is to check the official notification before you fill up, rather than relying on the price from last week.

Three things will decide where prices go from here:

1. World oil prices. If crude oil keeps falling, or stays low, further cuts are possible. If the conflict in the Middle East escalates, or if world demand recovers, prices could rise again just as quickly.
2. The rupee. Fuel is bought in dollars and sold in rupees. If the rupee weakens against the dollar, fuel becomes more expensive in rupees even if world oil prices stay flat.
3. Government policy. The new pricing formula and the refinery levy arrangement are still new. How long the government keeps the levy burden on refineries, and whether it extends the arrangement, will affect future prices.

For now, though, the direction is clear: fuel is cheaper today than it was yesterday, and cheaper than it was at the start of the week.

Frequently asked questions

What is the petrol price in Pakistan today?

Petrol costs Rs362.00 a litre from 5 November 2026, after a cut of Rs7.06. High-speed diesel costs Rs387.81 a litre, after a cut of Rs3.71.

How many times have fuel prices been cut this week?

Three times. Petrol was cut by Rs3.40 on Monday, by Rs5.45 on Tuesday, and by Rs7.06 on Wednesday (effective Thursday). Diesel was cut by Rs7.76, Rs3.68 and Rs3.71 in the same three steps.

Who decides petrol prices in Pakistan?

The Oil and Gas Regulatory Authority (OGRA) announces the prices under a pricing mechanism approved by the federal government. The Petroleum Division issues the notification. Prices are now worked out daily, based on international oil prices and the exchange rate.

Why did petrol prices fall?

Global crude oil prices fell sharply this week, with Brent crude dropping below $94 a barrel and US crude falling by more than 8 per cent in a day. Pakistan’s daily pricing system passes changes in world prices on to consumers quickly, so the fall showed up at the pump within days.

Will petrol prices fall further?

That depends on world oil prices and the rupee-dollar exchange rate. Because prices are now fixed daily, any change in world prices can show up at the pump the next day — in either direction.

How much tax is included in the petrol price?

Taxes and duties add up to Rs114 on every litre of petrol and Rs100 on every litre of diesel.

The bottom line

Petrol at Rs362 a litre and diesel at Rs387.81 is real relief for motorists, transporters and businesses — and the third cut in a week shows that Pakistan’s new daily pricing system passes world price falls on to consumers quickly. The same system, though, can pass price rises on just as fast. For now, drivers can enjoy the saving. But the price at the pump tomorrow will depend on what happens in the world oil market tonight.

Sources

• https://www.thenews.pk/story/1427144-petroleum-rates-in-pakistan-today
• https://islamabadpost.com.pk/ogra-slashes-petrol-price-by-rs-7-06-per-litre-effective-november-5/
• https://thestandard.com.pk/government-reduces-petrol-price-by-rs-7-06-liter-diesel-by-rs-3-71-liter/
• https://greenpost.com.pk/ppakistan-petrol-price-cut-diesel-price-november-2026/
• https://www.xtb.com/en/market-analysis/what-drives-the-market-top-morning-news-november-5-2026

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