ISLAMABAD: In the latest daily price review for October 23, the government on Thursday decreased the price of petrol by Rs1.60 to Rs377.71 per litre from Rs379.31. However, the price of High-Speed Diesel (HSD) has been increased by Rs1.64 from Rs390.11 per litre to Rs391.75.
Average refined petrol prices eased to USD 117.89 per barrel from USD 118.80 on October 22, while HSD increased slightly to USD 109.47 per barrel from USD 108.54. The sharper decline in diesel prices was primarily driven by a significant contraction in the HSD crack spread, which narrowed from USD 41.89 to USD 38.00 per barrel for a period of 3 months.
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 ex-refinery price of petrol has come down to Rs266.97 per litre from Rs268.57 per litre, whereas, import cost of HSD price has increased at Rs284.19 from Rs282.55 per litre.
The government levies and fixed profit margins for petrol and 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 Rs7.89 per litre for petrol, and Rs4.71 per litre for HSD.
Copyright Business Recorder, 2026