Petrol falls to Rs362 a litre as government cuts fuel prices for a third straight day
Petrol dropped by Rs7.06 a litre to Rs362 and diesel by Rs3.71 to Rs387.81 for 5 November, the third consecutive cut under the daily pricing system.
Petrol in Pakistan became cheaper by Rs7.06 a litre on Thursday, 5 November, as the federal government announced its third consecutive cut in fuel prices, bringing the retail rate down to Rs362 a litre for a single day. High-speed diesel was reduced by Rs3.71 a litre to Rs387.81, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Wednesday evening.
The new rates, which apply only for 5 November under the government's daily price fixation system, were confirmed by Dawn, Geo News and The Express Tribune, all citing the official OGRA notification. Figures in this post were checked at 11:49 PKT on 5 November 2026.
Before the latest revision, petrol was selling at Rs369.06 a litre and high-speed diesel at Rs391.52. The cut follows two earlier reductions this week: on 3 November, petrol fell by Rs5.45 a litre and diesel by Rs3.68, and prices were adjusted again for 4 November, making Wednesday's announcement the third reduction in as many days.
The daily pricing mechanism, introduced in July to replace a fortnightly system, allows fuel prices to move in line with international oil prices, Platts benchmarks, premiums and other incidental costs. Under the arrangement announced on Monday for 30 days, oil refineries will contribute to the petroleum levy by absorbing a cumulative impact of about Rs15 billion, according to the government.
Petroleum Minister Ali Pervaiz Malik said the daily fixation was introduced because of fluctuations in international market prices amid hostilities between Iran and the United States, and to pass the full impact on to consumers immediately rather than waiting for a weekly or fortnightly review. He added that efforts were under way to introduce a similar system for liquefied petroleum gas (LPG).
Despite the headline cuts, taxes and duties remain a large part of what motorists pay. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel, figures confirmed in the official notification and reported by Dawn.
OGRA has also begun publishing daily petroleum prices on its own website, a step the regulator says is meant to improve transparency and let changes in international oil prices reach consumers more quickly. The revised prices were calculated under the petroleum pricing mechanism approved by the federal government, the Petroleum Division said.
The relief comes at a time when households are watching fuel costs closely, because petrol and diesel prices feed directly into transport fares and the cost of moving goods. Transporters and traders have in the past passed on fuel changes to consumers, so a lower pump price can ease pressure on food and other essentials, although the effect depends on how long the lower rates last.
Whether the downward trend continues will depend on the next daily notification. Under the daily system, prices for 6 November will be set on Thursday evening, and any sharp move in global crude or in the rupee could quickly reverse the recent gains. Analysts will also be watching whether the refineries' levy contribution, now running for 30 days, is extended or revised.
For now, motorists filling up on 5 November will pay Rs362 for a litre of petrol and Rs387.81 for a litre of high-speed diesel, the lowest pump prices in the current cycle of reductions.
This post is market news information only, not financial advice.
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