Motorists across Pakistan are paying less for fuel today, after the federal government announced another round of cuts that apply to Thursday, November 5 only.
Under the revised rates, petrol now costs Rs362.00 a litre, down Rs7.06 from Rs369.06, while high-speed diesel is priced at Rs387.81 a litre, down Rs3.71 from Rs391.52. The changes were set out in a notification issued on Wednesday by the Oil and Gas Regulatory Authority (OGRA), working under the pricing mechanism approved by the federal government.
Wednesday’s reduction is the third cut in as many days, continuing a run of daily revisions that has steadily brought pump prices down this week. Yesterday’s post on this site covered the November 4 rates, when petrol stood at Rs369.06 and diesel at Rs391.52; those figures have now been superseded and should not be used as today’s prices.
OGRA has begun publishing its daily prices on its own website, a step officials say is meant to pass movements in world oil markets on to consumers more quickly and to make the process more transparent. The daily system replaced an earlier weekly cycle and was introduced in July, when renewed tension between the United States and Iran increased volatility in international markets.
According to Dawn’s report on the latest notification, taxes and duties remain heavy within the pump price, at Rs114 a litre on petrol and Rs100 a litre on diesel. The report links the latest adjustment to international prices, Platts benchmarks, premiums and other incidental costs, rather than to any change in those levies.
Because the new rates are valid for November 5 only, drivers and transport operators should expect a fresh revision for the following day. The daily mechanism means prices can move up as well as down, depending on how global benchmarks and related costs shift overnight.
For households and businesses, the latest cut offers some short-term relief on transport and freight costs, although the one-day validity means budgets for the rest of the week will depend on the next notification. Further updates will be reported here as each day’s rates are announced.
