ISLAMABAD – Motorists gets slight relief as the federal government has announced a sharp cut in the price of high-speed diesel and a further reduction in petrol rates.
The government has slashed the price of high-speed diesel by Rs4.21 per litre, bringing the new rate down to Rs414.75 from Rs418.96. Petrol consumers will also see a reduction, with the price of motor spirit cut by Rs1.93 per litre, taking it from Rs392.05 to Rs390.12 per litre.
The revised prices will take effect from September 24, 2026, under the petroleum pricing mechanism notified by the federal government.
The latest reduction follows a review of international oil-market conditions. The Petroleum Division said the adjustment reflected changes in Platts rates, petroleum premiums and other incidental costs.
The latest announcement comes after another round of reductions in the previous pricing review. At that time, the government had lowered the price of high-speed diesel by Rs3.12 per litre, while petrol was reduced by Rs1.70 per litre, taking their prices to Rs418.96 and Rs392.05 respectively.
With the latest revision, both major petroleum products have recorded another downward adjustment.
The domestic cuts come at a time when international crude markets are facing renewed volatility. Global oil prices climbed by almost 2% a barrel on Wednesday, as traders assessed developments surrounding Iran and the potential impact of geopolitical tensions on regional oil supplies.
Brent crude futures gained $1.84, or 1.85%, to reach $101.09 per barrel, while West Texas Intermediate (WTI) rose 69 cents, or 0.76%, to $91.21 per barrel by 11:11 a.m. EDT.
