ISLAMABAD: With the ease in international oil prices, the government on Tuesday announced reduction in daily fuel prices for October 14.
As per an official notification, the price of petrol has been reduced by Rs2.71 to Rs392.66 per litre. Similarly, the price of High-Speed Diesel (HSD) has been decreased by 3 paise to Rs396.82 per litre.
During last seven days, the average refined petrol price has been slightly decreased to USD 130.63 per bbl (compared to USD 132.17 per bbl on October 13), while HSD has kept unchanged at USD 108.43 per barrel.
Oil and Gas Regulatory Authority (OGRA) states that the change in price is necessitated by global events including changes in Platts rates, premiums, incidentals etc.
A Petroleum Division notification states that levies and profit margins remain largely steady across both products. The change is recorded in import cost of both petroleum products. The import cost of petrol has been declined to Rs281.88 per litre from Rs284.59 per litre, whereas, cost of HSD price has remained unchanged at Rs289.29 per litre.
According to the notification, government levies and fixed profit margins for petrol and high-speed diesel (HSD) remain unchanged. Both fuels carry a Petroleum Levy of Rs80 per litre, a Climate Support Levy of Rs5 per litre, and profit margins of Rs9.98 per litre for dealers and Rs7.87 per litre for oil marketing companies. The Inland Freight Equalisation Margin (IFEM) is sustained at Rs7.93 per litre for petrol, and Rs4.71 per litre for HSD.
Copyright Business Recorder, 2026