The federal government has revised fuel prices for Thursday, October 8, raising petrol by Rs1.82 per litre and reducing high-speed diesel by 91 paisas per litre under the daily pricing mechanism now in use. After the change, petrol sells at Rs396.65 per litre, while high-speed diesel is priced at Rs394.94 per litre.
The Petroleum Division issued the notification on Wednesday for prices applicable on October 8. This was the second consecutive daily adjustment, following the October 7 revision in which petrol had risen by Rs1.19 per litre and diesel had fallen by Rs1.91 per litre. Daily changes have replaced the older system in which prices were fixed for longer periods. That pattern can be compared with our coverage of previous petrol and diesel price rises in Pakistan.
How daily pricing works
Under the framework described by the government, daily prices are based on an average of international market prices over the previous seven days. Petroleum Minister Ali Pervaiz Malik has said the method follows international practice and is meant to pass market movements through more quickly, in smaller steps, instead of holding prices and then adjusting them in a larger jump. Import costs also track the current dollar rate in Pakistan closely.
The Oil and Gas Regulatory Authority issues the daily ex-depot prices for petrol and high-speed diesel. Prices notified on Fridays remain unchanged on Saturdays and Sundays under the arrangement, so the daily cycle pauses over the weekend even though the underlying international market continues to move.
Why prices are moving daily
The shift to daily pricing came after renewed hostilities in the Middle East increased volatility in global oil markets. Pakistan first moved from fortnightly revisions to a weekly system earlier in the conflict, and then, on July 17, announced that prices would be fixed on a daily basis because of continued fluctuations in international rates following tensions involving Iran and the United States. The wider financing backdrop includes the Pakistan IMF staff level agreement for $1.21 billion reached this week.
Fuel costs had risen sharply earlier in the year from their pre-conflict levels before easing back from April peaks. The government has also announced targeted relief measures during this period for lower income fuel users, including motorcycle riders and owners of small cars, in an effort to reduce the effect of high pump prices on daily travel and transport costs. Those relief announcements sit alongside the pricing mechanism rather than changing the notified pump price itself.
What the October 8 change means
For a petrol user, the October 8 increase adds Rs1.82 to every litre bought from Thursday. For transport and agriculture users who depend mainly on high-speed diesel, the 91 paisa reduction lowers the per litre cost slightly on the same day. Because revisions are now daily, both figures can change again in the next notification, depending on the seven day international average.
Commuters filling a motorcycle tank and motorists filling a car will see the petrol change immediately at the pump. Goods transport charges, which are more closely linked to diesel, respond more slowly in practice because transporters tend to adjust fares and freight rates over a period rather than after a single day’s small change. A one day diesel cut of less than a rupee is therefore more significant as a direction of travel than as an immediate saving on a full tank.
The next daily revision will show whether the small divergence between petrol and diesel seen on October 7 and October 8 continues. For now, the confirmed prices for October 8 are Rs396.65 for petrol and Rs394.94 for high-speed diesel across the country, as notified by the Petroleum Division. Readers comparing daily costs can also follow the latest prices in Pakistan today for fuel and other essentials.
