ISLAMABAD: The federal government has revised petroleum prices for October 13, reducing the price of petrol by Rs2.93 per litre while increasing high-speed diesel by Re0.61 per litre.
Under the revised rates, petrol will now sell at Rs395.37 per litre, down from Rs398.30, while high-speed diesel rises to Rs396.85 per litre from Rs396.24. The Oil and Gas Regulatory Authority (OGRA) finalised the ex-depot prices under the government’s petroleum pricing mechanism, and the Petroleum Division issued the formal notification.
The adjustment falls under the government’s daily fuel price review system, introduced earlier this year to track fast-moving international oil markets. Prices are worked out from the average of international market rates over the previous seven days, with rates announced on Friday remaining in force through the weekend. Officials said the latest change reflects movements in Platts reference rates, import premiums and incidental costs.
The revision follows a volatile stretch for global crude. Brent futures climbed about two per cent on Monday to roughly $106.76 a barrel, their highest in nearly two weeks, as attacks on Saudi energy facilities overshadowed expectations of larger supplies from Russia. US West Texas Intermediate also rose to about $93.69 a barrel.
Taxes and margins on both fuels remain unchanged: the petroleum levy stands at Rs80 per litre and the climate support levy at Rs5 per litre, with dealer margins of Rs9.98 and oil marketing company margins of Rs7.87 per litre. The import cost of petrol eased to Rs284.59 per litre from Rs287.52, while the import cost of diesel edged up to Rs289.29 from Rs288.68.
The change comes days after Friday’s review, when petrol had been cut by Re0.66 to Rs398.30 and diesel raised by Re0.52 to Rs396.24. Petrol powers private cars and motorcycles, while high-speed diesel fuels buses, trucks and farm machinery, so the diesel increase is expected to feed into transport and goods-delivery costs.
