ISLAMABAD – Petrol prices witnessed another cut of Rs1.60 per litre while diesel rates jumped up by Rs1.64, with the revised prices scheduled to take effect on October 23, according to the latest petroleum price adjustment.
Under the new rates, petrol will cost Rs377.71 per litre, down from Rs379.31, while high-speed diesel will rise to Rs391.75 per litre from Rs390.11.
The adjustment follows a separate revision announced a day earlier, when petrol prices were cut by Rs2.71 per litre and diesel prices increased by Rs0.31. That decision brought petrol to Rs379.31 per litre and diesel to Rs390.11.
The latest changes come amid continued volatility in international oil markets, where rising geopolitical tensions have pushed crude prices higher and heightened concerns about potential disruptions to energy supplies from the Middle East.
International crude prices climb to 5-month high
Global oil prices rose sharply as concerns over regional security and possible supply disruptions intensified. Increased Houthi attacks in Saudi Arabia have added to uncertainty surrounding energy flows from the Middle East, a key source of global oil supplies.
Brent crude futures touch $111.24 per barrel. US West Texas Intermediate (WTI) crude rose by $1.14, or 1.2 per cent, to $98.29 per barrel. Brent crude also entered technically overbought territory for the third time in a week and was on course for its highest closing price since May 18.
The increase in international crude prices highlights the risks facing energy-importing countries such as Pakistan, where changes in global petroleum markets and currency exchange rates can influence domestic fuel costs.
However, local petrol and diesel prices do not move in direct proportion to crude oil alone. International prices for refined petroleum products, exchange-rate movements, taxes, levies and marketing margins also affect the final rates.
Petrol prices trends 2026
Petrol prices have fluctuated throughout October but have generally moved downward following an increase earlier in the month. Fuel began October at approximately Rs387–390 per litre before reaching a reported monthly high of Rs398.96 around October 9. Subsequent reductions brought the price below Rs390 and eventually to Rs377.71 per litre under the latest announced revision.
| Date | Petrol price |
|---|---|
| October 15 | Rs393.86 |
| October 16 | Rs390.23 |
| October 17–19 | Rs386.30 |
| October 20 | Rs381.14 |
| October 21 | Rs382.02 |
| October 22 | Rs379.31 |
| October 23 | Rs377.71 |
Based on the reported figures, petrol has fallen by approximately Rs9–10 per litre, or around 2.5 per cent, compared with early-October levels. The trend has not been entirely consistent, as the price briefly increased on October 21 before declining again.
Despite the recent reductions, petrol remains considerably more expensive than it was earlier in 2026. Its price reportedly reached Rs458.41 per litre in April amid the impact of the US-Iran conflict, which began in late February.
Taxes
Government-imposed charges continue to account for a substantial share of the retail price of petroleum products. Recent reports have put taxes and duties on petrol at approximately Rs114 per litre, in addition to the petroleum levy and other applicable charges.
The government has also introduced austerity measures in response to higher energy costs. These reportedly include earlier market closing times and reduced fuel allocations for official vehicles. A relief programme for motorcycles, auto-rickshaws and smaller vehicles with engine capacities of up to 800cc has also been reported as part of the government’s response to rising fuel expenses.
While the petrol reduction will provide some relief to motorists, the increase in high-speed diesel prices could raise operating expenses for transporters, agricultural users and businesses dependent on diesel-powered vehicles and machinery.
Diesel is widely used in freight transportation and commercial activity. Higher prices can increase distribution and production costs, potentially placing additional pressure on businesses and consumers if those expenses are passed on through higher prices for goods and services.
Petrol Price slips below Rs380; Diesel gets expensive – Check New Rates
