ISLAMABAD — Fuel got cheaper again in Pakistan on Saturday, for the fifth day in a row. The federal government announced on Friday a reduction of Rs6.59 per litre in the price of petrol and Rs4.25 per litre in high-speed diesel (HSD), The News reported. With the latest adjustment, petrol costs Rs346 per litre and HSD Rs378 per litre.

Source: The News (Pakistan), Nov 7, 2026

The Oil and Gas Regulatory Authority (OGRA) said the revised prices would remain in effect from November 7 to 9, and that it has begun publishing daily petroleum prices on its own website to improve transparency and allow changes in international oil prices to be passed on to consumers more quickly. Dawn's reporting of the same OGRA notification carried the same figures — petrol down Rs6.59 to Rs346, diesel down Rs4.25 to Rs378.

Source: Dawn reporting via OGRA notification, Nov 7, 2026

Why prices are now set by the day

Amid heightened volatility in global oil markets following renewed hostilities in the Middle East, the government has adopted a daily fuel-price review mechanism, The News reported. The weekly review system had itself been introduced after the outbreak of the Israel-Iran conflict in February, which was further intensified by US involvement and disruptions to energy shipments through the Strait of Hormuz, a key route for global oil supplies.

The federal cabinet approved changes to the petrol pricing mechanism on October 30 amid volatility caused by the US-Iran war, and has temporarily fixed the premium, incidentals and customs duty used in calculating the ex-refinery petrol price at their March 7, 2026 — pre-war — levels for 30 days. Under a related arrangement reported by Dawn, oil refineries are absorbing part of the petroleum levy — a cumulative impact of about Rs15 billion, yaani Rs1,500 crore — with the benefit passed through to consumers as lower pump prices; the arrangement is temporary and runs for the rest of the month, so the daily cuts may not continue even if world prices stay soft.

The latest cut is not a tax cut: taxes and duties inside the pump price have not changed — about Rs114 a litre on petrol and Rs100 a litre on diesel, according to the price breakdowns published with the notification. Diesel at Rs378 matters beyond the pump for Punjabi and Pakistani households alike: HSD powers the trucks and buses that move food and goods across Pakistan, so every rupee off diesel feeds — with a lag — into freight rates and market prices.

What happens next depends on two things: world oil prices — which fell sharply in the week after the US midterms before tanker attacks in the Gulf put a floor under them — and whether the temporary refinery arrangement is extended when its 30 days run out later this month. Until then, Pakistani motorists are getting a rare run of relief at the pump, set one day at a time.