Pakistan Cuts Petrol by 66 Paisa, Raises Diesel: Inside the New Daily Fuel Price System


Fuel prices in Pakistan changed again on Saturday — and the numbers tell a split story. The federal government trimmed the petrol price by just 66 paisa per litre, taking it down to Rs 398.30, while raising high-speed diesel by 52 paisa to Rs 396.24. The revised rates, announced by the Petroleum Division on Friday, remain effective from October 10 to October 12.


To understand why a price cut can feel like a price hike, look at what happened a day earlier. On October 9, the government had raised petrol by Rs 2.31 per litre and diesel by 78 paisa. Against that backdrop, the 66-paisa reduction looks more like a rounding error than relief — petrol is still hovering just below the Rs 400 mark, a level that has motorists and households across Pakistan worried.


The deeper story is how prices are now set. Pakistan has moved to a daily fuel pricing mechanism, announced on July 17, under which the Oil and Gas Regulatory Authority (OGRA) publishes updated ex-depot prices based on a rolling seven-day average of international market prices. Petroleum Minister Ali Pervaiz Malik said the system follows international practice and improves transparency, letting consumers benefit more quickly when global prices move. Under the approved framework, OGRA can announce daily prices without seeking prior approval from the prime minister, while prices notified on Fridays stay unchanged over the weekend.


This is the second major shift in pricing mechanics this year. Pakistan previously revised fuel prices fortnightly, then switched to weekly reviews after the Israel-Iran conflict erupted on February 28 and the United States became involved — disruptions that rattled oil shipments through the Strait of Hormuz, the waterway through which roughly a fifth of the world's energy supplies once moved. With renewed hostilities in the Middle East keeping global oil markets volatile, the government decided frequent reviews were the only honest way to track reality.


And reality has been harsh. In just nine days, petrol surged from Rs 387.40 per litre on October 1 to Rs 398.96 on October 9 — an Rs 11.56 jump — before Saturday's marginal cut. For context on who feels this most: petrol powers the motorcycles and cars of ordinary households, while diesel fuels heavy transport, agriculture and logistics. A diesel increase ripples straight into the price of goods, because transporters pass their costs on to everything from wheat to soap.


The government has tried to cushion the blow. On September 13, Prime Minister Shehbaz Sharif announced a relief scheme offering Rs 100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc — covering an estimated 11.8 million beneficiaries, with monthly caps of 20 litres for two- and three-wheelers (up to Rs 2,000 benefit) and 30 litres for small cars (up to Rs 3,000). On September 17, the government also reintroduced austerity and fuel conservation measures, tightening business operating hours and restricting public events.


What happens next depends almost entirely on global oil. If Middle East tensions ease and international prices settle, Pakistan's daily mechanism could actually deliver meaningful reductions quickly. But if the volatility continues, expect more of the same: prices nudged daily by fractions, with diesel quietly pushing inflation upward even as petrol grabs the headlines.


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