Petrol Prices: Government Cuts Petrol by Rs5.45, Diesel by Rs3.68 per Litre

The federal government has reduced petrol prices by Rs5.45 per litre and high-speed diesel (HSD) by Rs3.68 for November 4.

According to a notification issued by the Oil and Gas Regulatory Authority (Ogra), petrol will now cost Rs369.06 per litre. The new price of high-speed diesel is Rs391.52 per litre.

The announcement followed remarks by Petroleum Minister Ali Pervaiz Malik, who had promised further relief for consumers. He made the remarks at a press conference in Islamabad alongside Information Minister Attaullah Tarar.

Malik said Prime Minister Shehbaz Sharif had directed the government to provide maximum relief to low-income households. He added that the government had prevented a possible increase in petrol prices with support from oil refineries.

The minister said the government would pass on any reduction in international petroleum prices to consumers. He also highlighted measures to support vulnerable groups amid challenges in the global energy market.

Malik said regional tensions had complicated liquefied natural gas (LNG) imports. The government was therefore working to strengthen Pakistan’s energy security and maintain adequate supplies.

He said the government had provided Rs130 billion in subsidies under its public relief scheme. Pakistan has around 10 million piped gas connections, while households without access to the network rely on liquefied petroleum gas (LPG).

Local LPG production stands at between 2,000 and 2,500 tonnes, Malik said. He accused some market players of exploiting consumers through excessive prices.

The minister said the government had received complaints about LPG selling for as much as Rs800 per kilogram in some cities. He added that authorities were working on a strategy to ensure affordable gas supplies during winter.

Pakistan imports around 70 per cent of its fuel requirements, Malik said. He stressed that the government wanted to secure supplies at competitive prices.

He also said fuel-importing companies would have to publish their prices on their websites to improve transparency. The government would ensure fair distribution of LPG quotas, particularly in remote areas.

Malik added that the government was considering support for vulnerable gas consumers through the Benazir Income Support Programme (BISP).

Information Minister Attaullah Tarar said public relief had remained a priority for the prime minister during the crisis. He said petroleum subsidies had helped reduce the burden on consumers.

Tarar also described the decision to introduce competition in the LPG sector as a major step. He said the government had secured financial support from oil refineries to provide relief to the public.

The press conference followed Monday’s announcement that oil refineries would share a monthly burden of Rs15 billion with the government. The arrangement was intended to help keep petrol prices Rs15 per litre below the international market level amid the US-Israeli war on Iran.

Malik thanked oil refineries for supporting the government during the difficult period. He said the targeted fuel relief scheme was providing assistance to 13 million people, alongside other public relief measures.

The government had also revised the petrol pricing mechanism on Friday. Under the arrangement, refineries must surrender the difference between import and ex-refinery prices as a petroleum levy. The resulting benefit is to be passed on to consumers through lower petrol prices.

The revised mechanism links petrol’s import price to the actual cost of the relevant Pakistan State Oil (PSO) cargo. If the actual cost is unavailable on a pricing day, officials may use the premium, incidental charges and customs duty from the latest available cargo.

For the next 30 days, refineries will calculate ex-refinery prices using the premium, incidentals and customs duty levels that applied on March 7, 2026, before the war.