Motorists across Pakistan got fresh relief on Wednesday as petrol became cheaper by Rs8 a litre and high-speed diesel by Rs7, with the new rates taking effect from 11 November.
According to the Oil and Gas Regulatory Authority (OGRA), petrol will now be sold at Rs338 a litre, down from Rs346, while diesel has fallen from Rs378 to Rs371 a litre. The regulator issued the notification on Tuesday night, and the revised prices apply from Wednesday.
It is the second cut in a week. The previous revision, in force from 7 to 10 November, had lowered petrol by Rs6.59 a litre and diesel by Rs4.25 a litre.
OGRA has also begun publishing petroleum prices on its website every day, so that changes in international oil prices can be passed on to consumers more quickly. Under the daily pricing system, adjustments remain suspended on Saturdays, Sundays and public holidays.
The move to daily pricing follows a period of sharp swings in global oil markets amid renewed hostilities in the Middle East. The federal cabinet approved changes to the petrol pricing formula on 30 October, The News reported. Under the revised formula, the import price of petrol is worked out from the actual import cost of the relevant PSO cargo, and where that cost is unavailable for daily pricing, the premium, incidentals and customs duty of the last available cargo are used instead.
For local refineries, the government has temporarily fixed the premium, incidentals and customs duty used in working out the ex-refinery price at their 7 March 2026 levels for 30 days. The difference between the import price and the resulting ex-refinery price is to be surrendered by refineries under the petroleum levy account, with the benefit passed on through a corresponding reduction in the petrol price.
The government has also introduced a short-term adjustment to smooth petrol price movements, incorporating the benefit arising from a premium differential into petrol prices at a rate of $2.950 per barrel per day.
Cheaper diesel should ease costs for transporters, farmers and businesses that depend on road freight, while the petrol cut brings direct relief to millions of motorists. With prices now reviewed daily, however, the relief could be short-lived if international oil prices climb again, and the next revision will be watched closely by consumers and the transport sector alike.
