ISLAMABAD: Despite falling global oil prices, the price of petrol has increased by Rs1.20 to reach Rs393.86 per litre, up from Rs392.66. The hike is driven by an increase in the oil premium and freight charges, which climbed from USD 16.12 to USD 17.94 per barrel. Meanwhile, High-Speed Diesel (HSD) saw a slight decrease of 17 paise, bringing its price down to Rs396.65 per litre effective October 15.
During the last seven days, the average refined petrol price has been slightly increased to USD 129.31 per bbl (compared to USD 130.63 per bbl on October 14), while HSD has been reduced to USD 108.34 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.
A Petroleum Division notification states that levies and profit margins remain largely steady across both products. The change is recorded in the import cost of both petroleum products. The import cost of petrol has been increased to Rs283.08 per litre from Rs281.88 per litre, whereas the HSD price has declined to Rs289.09 from Rs289.29 per litre.
According to a Petroleum Division notification, 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 Rs7.93 per litre for petrol, and Rs4.71 per litre for HSD.
Copyright Business Recorder, 2026