The latest Pakistan petrol and diesel prices review for October 24 brings a mixed update for consumers. The government has kept the retail price of petrol unchanged at Rs377.71 per litre, while the price of High-Speed Diesel (HSD) has increased by Rs1.91 per litre. Under the revised rates, diesel will now cost Rs393.66 per litre, compared with its previous price of Rs391.75.
The new prices are effective from October 24 to October 26, according to the petroleum price notification. The adjustment reflects changes in the import costs of petroleum products and movements in international oil markets, while major government levies and fixed profit margins remain unchanged.
Petrol Price Remains at Rs377.71 Per Litre
Petrol consumers will continue paying Rs377.71 per litre during the latest pricing period. The decision to maintain the existing rate comes despite a slight decline in the average international price of refined petrol.
According to the figures cited in the pricing review, the average refined petrol price decreased to $117.52 per barrel from $117.89 per barrel on October 23.
Pakistan’s ex-refinery petrol price also recorded a marginal decline, falling from Rs266.97 to Rs266.95 per litre. However, this small reduction was not enough to produce a change in the final retail price.
For motorists, commuters and households that rely on petrol-powered vehicles, the unchanged rate means there will be no immediate increase in direct fuel expenses during the specified period.
High-Speed Diesel Price Increased
Unlike petrol, High-Speed Diesel has become more expensive under the latest revision. The price has risen by Rs1.91 per litre, moving from Rs391.75 to Rs393.66.
The increase follows a rise in the average international price of refined diesel. The price climbed to $110.58 per barrel from $109.47 per barrel on October 23.
The import cost of HSD also increased, rising from Rs284.19 to Rs286.11 per litre. This upward movement contributed to the adjustment in the domestic retail rate.
The higher diesel price may put additional pressure on transport operators, goods carriers, agricultural businesses and other sectors that depend heavily on diesel-powered vehicles and machinery. Changes in diesel costs can also affect transportation expenses, potentially influencing the prices of goods and services.
Why Have Fuel Prices Changed?
The Oil and Gas Regulatory Authority (OGRA) attributed the price adjustments to changes in international market conditions and related petroleum costs.
These factors include movements in Platts prices, premiums, incidental expenses and other components associated with importing petroleum products into Pakistan.
International refined fuel prices do not always move in the same direction. In the latest review, petrol prices declined slightly, while diesel prices increased. This difference helps explain why the government maintained the petrol rate but raised the diesel price.
The Pakistan petrol and diesel prices review also reflects the importance of import costs in determining domestic fuel rates. Even when international prices change only modestly, the final retail price depends on several components included in the pricing formula.
Government Levies and Profit Margins Remain Unchanged
The Petroleum Division notification states that government levies and fixed profit margins for petrol and diesel remain unchanged.
Both fuels carry a Petroleum Levy of Rs80 per litre and a Climate Support Levy of Rs5 per litre. Dealer profit margins remain at Rs9.98 per litre, while oil marketing companies receive a fixed margin of Rs7.87 per litre.
The Inland Freight Equalisation Margin (IFEM), which contributes to managing transportation costs across the country, also remains unchanged. It stands at Rs7.89 per litre for petrol and Rs4.71 per litre for HSD.
With these components remaining stable, the latest adjustment is primarily associated with changes in the import costs of the two petroleum products.
Impact on Consumers and Businesses
The unchanged petrol rate offers some short-term stability to private vehicle owners and daily commuters. However, the increase in diesel prices could create additional operating costs for businesses that depend on road transportation and diesel-powered equipment.
Transport companies may face higher fuel expenses, while farmers and commercial operators could also feel the impact depending on their fuel consumption and operating requirements.
Whether the diesel increase eventually affects consumer prices will depend on several factors, including transportation costs, market competition and businesses’ ability to absorb additional expenses.
The latest Pakistan petrol and diesel prices announcement keeps petrol at Rs377.71 per litre while increasing High-Speed Diesel to Rs393.66 per litre for October 24 to 26. The differing adjustments reflect a slight decline in international petrol prices and a rise in diesel prices and import costs.
Although government levies and fixed margins remain unchanged, movements in global refined fuel markets continue to influence domestic petroleum rates. Consumers and businesses will be watching future price reviews for further changes that could affect household budgets, transport expenses and operating costs.
