By Ali Imran
The federal government has lowered petrol price by Rs7.06 per litre and high-speed diesel (HSD) rate by Rs3.71, according to a notification issued on Wednesday.
With the latest adjustment, petrol will cost Rs362 per litre, while HSD will be available at Rs387.81 per litre.
The Oil and Gas Regulatory Authority (OGRA) said the revised prices would be effective for November 5 only.
Ogra has also begun publishing daily petroleum prices on its website to improve transparency and allow changes in international oil prices to be passed on to consumers more quickly.
Revised fuel rates
| Effective date | Products | Old rates | New rates | Changes in prices Rs/litre |
| Nov 5 | Petrol | 369.06 | 362.00 | -7.06 |
| Nov 5 | High-speed diesel | 391.52 | 387.81 | -3.71 |
Amid volatility in global oil rates on the back of renewed hostilities in the Middle East, the government decided to switch to a daily fuel price review mechanism.
The government had introduced a weekly fuel price review system after the conflict in the Middle East began on February 28, when Israel and the United States attacked Iran, leading Tehran to shut the Strait of Hormuz — the main route before the war for around a fifth of global energy supplies.
Tensions have mounted since a fragile June truce between Tehran and Washington collapsed, reviving fears of full-scale war and disrupting energy flows through the Strait.
Previously, the petroleum rates were revised fortnightly.
