The government has cut fuel prices for a fifth day in a row, bringing petrol down to Rs346 a litre and high-speed diesel to Rs378 from Saturday.
The Oil and Gas Regulatory Authority issued the notification on Friday. Petrol falls by Rs6.59 from Rs352.59, while diesel drops by Rs4.25 from Rs382.25. The new rates apply from 7 to 10 November, covering the public holiday on Monday 9 November for Iqbal Day.
Taxes and duties on both fuels stay unchanged, at Rs114 a litre on petrol and Rs100 a litre on diesel, so the relief comes through the pricing mechanism rather than a tax cut.
Part of the cut is made possible by a 30-day arrangement under which oil refineries are absorbing some of the petroleum levy, with a cumulative impact of Rs15 billion. The government says the arrangement allows a reduction of Rs14.71 a litre in the petrol price at the consumer end.
Under the daily pricing system now in force, OGRA resets pump prices each day in line with international market trends, replacing the weekly revision cycle used earlier in the year.
Friday’s cut extends a run of daily reductions that has now reached five in a row. On Thursday, petrol had been cut to Rs352.59 and diesel to Rs382.25 for 6 November only.
Both fuels remain well below the peaks recorded on 3 April, when petrol reached Rs458.41 a litre and diesel Rs520.35. Prices had climbed sharply from March after the outbreak of the US-Iran war in late February.
The reductions matter well beyond the forecourt. Petrol powers private cars, small vehicles, rickshaws and two-wheelers, so its price feeds straight into household budgets, particularly for middle- and lower-middle-income families. Diesel drives heavy transport, power plants and large generators, and its price shapes the cost of moving goods across the country.
Petrol and diesel are also the biggest revenue earners among petroleum products, with combined monthly sales of roughly 700,000 to 800,000 tonnes, against only about 10,000 tonnes for kerosene.
Earlier: Petrol Cut to Rs352.59, Diesel to Rs382.25 for November 6
