Government Reduces Petrol and Diesel Prices Amid Global Fluctuations

The federal government has announced new ex-depot prices for petroleum products, reducing the prices of both high-speed diesel (HSD) and petrol. According to a press release from the Petroleum Division on Wednesday, diesel prices have been lowered by Rs4.21 per litre, now set at Rs414.75 per litre. Petrol prices have also been decreased by Rs1.93 per litre, bringing the new rate to Rs390.12 per litre.

Previously, the price of diesel stood at Rs418.96 per litre while petrol was priced at Rs392.05 per litre. The revised prices, which will take effect from September 24, 2026, follow the petroleum pricing mechanism notified by the federal government.

The Petroleum Division stated that the adjustments were prompted by global developments, including variations in Platts rates, premiums, and incidentals.

In the last pricing review, the government had reduced the price of diesel by Rs3.12 per litre and petrol by Rs1.70 per litre.

On the global stage, oil prices saw an increase of nearly 2% per barrel on Wednesday. Brent crude futures were reported at $101.09 per barrel and West Texas Intermediate futures at $91.21, amid ongoing geopolitical tensions involving Iran. The market volatility was influenced by statements from Iranian President Masoud Pezeshkian and former US President Donald Trump.