News Desk
The government on Monday reduced the price of petrol by Rs5.16 to Rs381.14 per litre and high-speed diesel (HSD) by Rs7.69 to Rs389.27 per litre, effective October 20, 2026. According to a press release issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products in line with the pricing mechanism set by the federal government. The revised prices will remain effective for October 20. The Petroleum Division said the change was necessitated by global developments, including movements in Platts rates, premiums and incidentals. On Friday, the government had reduced the price of petrol by Rs3.63 to Rs390.23 per litre, while increasing the price of high-speed diesel by Re0.31 to Rs396.96 per litre. Meanwhile, oil prices slipped more than $1 on Monday as investors took profits after prices climbed to multi-month highs last week, while keeping a close watch on conflicts in the Middle East and Ukraine and assessing the impact of U.S. waivers on some sanctions and tariffs affecting Russian exports. Brent crude futures fell $1.72, or 1.6%, to $108.14 a barrel at 1027 a.m. ET or 1427 GMT, after settling at their highest since May 19 on Friday.