ISLAMABAD: In its daily revision, the government on Thursday announced fuel prices for October 16.
As per a notification, the price of petrol has been reduced by Rs3.63 to Rs390.23 per litre from Rs393.86. However, the price of High-Speed Diesel (HSD) saw a slight increase of 31 paise, bringing its price to Rs396.96 per litre.
During the last seven days, the average refined petrol price has decreased to USD 127.24 per bbl (compared to USD 129.31 per bbl on October 15), while HSD has been increased to USD 108.53 from 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.
The import cost of petrol has declined to Rs279.45 from Rs283.08, whereas the HSD price has gone up to Rs289.40 from Rs289.09.
The 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