Govt hikes petrol by Rs1.2, cuts diesel by 17 paisas for Oct 15

Petrol price increases to Rs393.86 per litre, while HSD will cost Rs396.65 under daily price mechanism

The federal government on Wednesday increased the price of petrol by Rs1.2 per litre, while decreasing the price of high-speed diesel (HSD) by 17 paisas per litre for October 15.

According to a notification issued by the Petroleum Division, the price of petrol was fixed at Rs393.86 per litre, while HSD would cost Rs396.65 per litre for Thursday.

The latest revision comes a day after the government decreased the price of petrol and high-speed diesel (HSD) by Rs2.71 and 3 paisas per litre, respectively, for October 14.

The government has revised the prices of petroleum products for Thursday@Official_PetDiv #RadioPakistan #News https://t.co/bsKRhWfzBM pic.twitter.com/cudBQVtC4Y

— Radio Pakistan (@RadioPakistan) October 14, 2026

Read: Govt cuts petrol by Rs2.71, diesel by 3 paisas for Oct 14

On July 17, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified daily, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.

On September 13, PM Shehbaz announced a special relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc, in an attempt to shield lower-income consumers from the impact of rising petroleum prices.

Under the proposal, an estimated 11.8 million beneficiaries would be covered. Around 10 million two-wheeler users and 800,000 three-wheeler users would be entitled to relief on 20 litres of fuel per month, translating into a maximum monthly benefit of Rs2,000 per beneficiary.

Another one million users of cars up to 800cc would receive relief on 30 litres per month, providing them with a maximum benefit of Rs3,000 each.

On Sept 17, the government reintroduced austerity and fuel conservation measures amid rising fuel prices, tightening business operating hours and restricting public events.

Under the measures, notified with immediate effect, shops, markets, shopping malls, bazaars, departmental stores, grocery stores, general stores and kiryana shops would close by 9pm throughout the week, according to a notification issued by the Cabinet Division.

Marriage halls, marquees and other commercial venues hosting festive events would close by 10pm, while restaurants, cafes, eateries, food outlets and standalone fruit and vegetable shops would be allowed to operate until 11pm. Takeaway and home delivery services would remain exempt from the timing restrictions.

Global geopolitical developments continue to pose significant risks. International oil prices are influenced by decisions taken by OPEC+, conflicts in the Middle East, sanctions on oil-producing nations, and disruptions in critical shipping routes such as the Strait of Hormuz and the Red Sea. Any interruption in these supply chains can immediately increase crude oil prices and freight costs. Since Pakistan imports the majority of its petroleum requirements, these developments quickly translate into higher domestic fuel prices.

Oil prices steadied on Wednesday after rising on an attack, opens new tab on the ​headquarters of Saudi Arabia's state-owned oil company and Iranian comments about new tactics deployed to target ships and keep oil prices ‌high to influence US midterm elections.

Brent crude futures were up 13 cents at $105.56 a barrel by 1325 GMT. US West Texas Intermediate crude gained $1.25, or 1.33%, to $95.39 for a more than two-week high.

"Attacks on ships crossing the Strait of Hormuz and military strikes between Saudi Arabia and the Houthis are supporting prices as market participants remain concerned ​about lower oil exports from the region," said UBS analyst Giovanni Staunovo, adding that exports have held up so far.