Petrol and Diesel Prices Likely to Drop in Pakistan from October 16 Amid Global Oil Market Shift

Pakistan is likely to experience a slight relief in fuel prices starting October 16, with petrol and diesel rates expected to decline in response to recent shifts in the international oil market. Preliminary estimates suggest a reduction of approximately Rs. 6.10 per litre for petrol, while high-speed diesel may see a smaller cut of around Rs. 0.97 per litre. Minor price drops are also anticipated for kerosene oil and light diesel, projected at Rs. 2.75 and Rs. 1.64 per litre respectively.

The Oil and Gas Regulatory Authority (OGRA) has completed its initial pricing review and is set to submit a summary to the Petroleum Division. Following this, the Ministry of Finance and the Petroleum Division will forward their recommendations to the Prime Minister for final approval. Once approved, the revised prices will officially be implemented from October 16.

This expected adjustment comes shortly after a recent hike earlier in the month, when petrol prices rose by Rs. 4.07 per litre and high-speed diesel by Rs. 4.04, drawing public concern amid ongoing inflation and rising transport costs. In parallel, consumers have already seen some relief in the price of liquefied petroleum gas (LPG) for October, with the cost of a domestic cylinder reduced by Rs. 79.14, bringing it down to Rs. 2,448.

While this potential drop in fuel prices may offer temporary financial relief to households and businesses—especially those reliant on transport—officials caution that future pricing decisions will continue to reflect global oil trends and fluctuations in currency exchange rates.