Govt hikes petrol price by Rs2.02, slashes diesel by Rs3.59 per litre

The federal government has increased the ex-depot price of petrol by Rs2.02, raising it to Rs391.30 per litre, while simultaneously slashing the price of high-speed diesel by Rs3.59, bringing it down to Rs408.53 per litre. These revised prices will be in effect from September 26 to September 28, 2026, according to the petroleum pricing mechanism issued by the federal government.

The Oil and Gas Regulatory Authority (OGRA) made the price adjustments, citing global market developments such as changes in Platts rates, premiums, and incidentals. This marks the latest in a series of reviews; earlier, the government had reduced the prices of both high-speed diesel and petrol. In the midst of this, oil prices experienced a decline, with Brent futures falling over 1% and West Texas Intermediate (WTI) dipping even more significantly.

Brent was trading at $105.26 a barrel, down $1.34, or 1.3%, at 1215 GMT, while WTI was $92.78 a barrel, down $1.83, or 1.9%. The drop in oil prices was attributed to both the possibility of a truce between the US and Iran and concerns over potential disruptions to Saudi Arabian oil supply due to Houthi fighter attacks.