Petrol Price in Pakistan to drop to Rs338 tonight in another relief amid Global Oil dip

ISLAMABAD – Petrol and diesel prices in Pakistan are expected to fall further on Wednesday as the government prepares another round of fuel price reductions amid declining global crude oil rates.

According to reports, Petrol could become cheaper by Rs8 per litre, while high-speed diesel prices are likely to fall by Rs7 per litre, offering fresh relief to motorists, transporters and businesses across the country.

Oil and Gas Regulatory Authority (OGRA) is expected to issue an official notification on Tuesday night, announcing the revised petroleum prices for November 11. The new rates are expected to remain effective for one day under the daily fuel pricing mechanism. The anticipated reduction could bring petrol prices down from the existing Rs346 to Rs338 per litre, while high-speed diesel may decline from Rs378 to Rs371 per litre.

Although the projected reductions have raised expectations of further relief, the final prices will only be confirmed after the official notification.

When will Rs100 per litre petrol subsidy end in Pakistan? Check update

The latest anticipated adjustment follows a series of reductions in petroleum prices during the first week of November. On October 31, petrol was priced at Rs377.91 per litre, while high-speed diesel stood at Rs402.96. Following successive revisions, petrol declined to Rs346 per litre and diesel to Rs378 per litre by November 7.

This means petrol has already become cheaper by Rs31.91 per litre, while diesel has recorded a reduction of Rs24.96 per litre during the period. If the proposed November 11 reductions are approved, petrol will be Rs39.91 cheaper per litre than its October 31 level, while diesel will be down by Rs31.96 per litre.

International Oil Prices Tumble

The expected domestic price cuts coincide with a fresh decline in international crude oil markets, where prices extended losses on Tuesday following developments involving US, and Iran.