Govt cuts petrol price by Re0.14, diesel by Rs1.89 per litre

The federal government has announced a price cut for petrol and high-speed diesel (HSD). On October 1, the price of petrol has been reduced by Re0.14 per litre to Rs387.40, down from Rs387.54. Similarly, the price of HSD has been decreased by Rs1.89 to Rs400.35, from the previous rate of Rs402.24. This adjustment is based on the Petroleum Division's determination following the Petroleum Pricing Mechanism approved by the federal government.

The revised prices are set to remain effective for the month of October 2026. The government's decision was prompted by global developments, including fluctuations in Platts rates, premiums, and incidentals. Earlier this week, the government had also reduced the prices of petrol and diesel by Rs1.49 and Rs2.73 per litre, respectively.

Oil prices experienced an upward trend on Wednesday, with the Brent November futures contract increasing by $1.12, or 1%, to $103.71 a barrel, and the more active December contract rising by $2.65, or 2.8%, to $98.81. Additionally, US West Texas Intermediate crude saw a gain of $1.98, or 2.2%, reaching $91.98.

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