What happened

According to Dawn, the government has revised domestic fuel rates, reducing the price of petrol by Rs3.19 per litre and increasing high-speed diesel (HSD) by Rs2.25 per litre. A notification from the Petroleum Division specifies that the updated pricing is applicable for Wednesday, Oct 28. Under the revised rates, petrol costs Rs376.06 per litre, while HSD is priced at Rs398.07 per litre.

Following the decision, Jamaat-i-Islami (JI) chief Hafiz Naeemur Rehman met Prime Minister Shehbaz Sharif in Islamabad to press for the removal of fuel levies. The two leaders agreed to create a joint government-JI committee to explore expanding an existing fuel relief program that has served motorcycles, rickshaws, and vehicles under 800cc since Sept 17. Rehman warned that his party would organize a protest march to Islamabad in mid-November if major relief is not granted.

Key facts

  • The government continues to impose duties and taxes of Rs114 per litre on petrol and Rs100 per litre on diesel.
  • Despite supply concerns voiced by senators, Minister of State for Finance and Revenue Bilal Azhar Kayani stated no supply problems exist, and the Pakistan Petroleum Dealers Association advised consumers against panic buying.
  • Active austerity policies require commercial markets to shut by 9pm and cut fuel allocations for state vehicles by 50 per cent for a three-month period.
  • Prices have been set on a daily basis by the Oil and Gas Regulatory Authority (Ogra) since July 17 due to international market fluctuations.
  • Earlier this year, fuel prices peaked on April 3, when HSD reached Rs520.35 per litre and petrol reached Rs458.41 per litre following conflict in the Middle East.

Why it matters

According to Dawn, fluctuations in petrol costs mainly impact lower-middle and middle-class households, as petrol is mostly utilized in two-wheelers, rickshaws, and small cars. Diesel price movements influence the broader economy due to HSD usage in power generation, heavy transport, and large industrial generators. Petrol and HSD are major revenue drivers, recording monthly sales of 700,000 to 800,000 tonnes, compared to 10,000 tonnes of monthly demand for kerosene.

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Source: Dawn - Home · Published October 27, 2026 · Photo by Zoshua Colah on Unsplash

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