Announcement of Reduction in Petroleum Product Prices
ISLAMABAD (Daily Qudrat): OGRA has announced a reduction in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been reduced by Rs5.45, while diesel has also been made cheaper by Rs3.68 per litre.
The new price of petrol has been fixed at Rs369.06, and the price of high-speed diesel at Rs391.52.
The new prices will take effect from 12 midnight tonight.
On the other hand, due to rising tensions in the Middle East and possible disruptions in global energy supplies, fears have arisen of further increases in the prices of various commodities, including energy and food. According to the World Bank’s Commodity Outlook report, overall global commodity prices are expected to rise by 23 percent during 2026, while energy prices could rise by up to 32 percent.
The effects of the price increase are likely to be felt on the global economy, inflation and the ordinary consumer’s purchasing power.
According to the report, the average price of Brent crude in the international market is expected to remain $91 per barrel during 2026, while global food prices are forecast to rise by 10 percent. The increase in energy prices could raise production costs, transportation and the prices of essential commodities, as a result of which inflationary pressure in various countries is feared to intensify further.
The World Bank pointed out in the report that tensions in the Middle East have affected global energy supplies, while the ongoing war between Russia and Ukraine is also affecting the delivery of agricultural commodities through the Black Sea route.
Federal Minister for Petroleum Ali Pervaiz Malik has said that there will be severe cold in December and January, and efforts are underway to provide gas to domestic consumers for cooking three meals a day. Saudi Aramco had set the contract price of LPG at $540 per ton in March, which has now risen to $756, and the government is taking steps to ensure the import of LPG at a lower price.
Addressing a news conference along with Federal Information Minister Atta Tarar, Federal Minister for Petroleum Ali Pervaiz Malik said that due to the war in this entire region, it is a difficult time. The US-Iran war started on 28 February, and even today its pain is visible at home and around; due to this, people are facing difficulties. During this time, the Prime Minister’s instruction has also been for all of us, and practical steps have also been taken in this regard. Keeping in view the economic reality and available resources, protection should be provided to the weak in every way.
Ali Pervaiz Malik said that the energy infrastructure must be improved, and we must become self-sufficient. The war is certainly somewhere else but we have come under its impact, yet we had to face these challenges ourselves. The government is working on building an energy security architecture. To make Pakistan self-sufficient in the energy sector, the systems of storage, refineries and LPG must be improved.
سعودی آرامکو نے مارچ میں ایل پی جی کی کنٹریکٹ قیمت 540 ڈالر فی ٹن مقرر کی تھی، جو حال ہی میں بڑھ کر 756 ڈالر فی ٹن ہو گئی۔ ایل پی جی کے شعبے میں مسابقت بڑھانے اور کم قیمت پر درآمد یقینی بنانے کے لیے اقدامات کیے جا رہے ہیں۔ علی پرویز ملک https://t.co/Byma96vJpx
— WE News (@WENewsPk) November 3, 2026
To meet gas demand in the coming winters, importing expensive LNG and, if needed, gas rationing are also under consideration.
Federal Minister Ali Pervaiz Malik said that there will be severe cold in December and January; every effort will be made to provide gas in homes for three meals a day, and for other things LPG will be required.
Efforts are underway to bring cheap fuel from abroad and provide it to the people at a low price.
Ali Pervaiz Malik said that Saudi Aramco had set the contract price of LPG at $540 per ton in March, which has recently risen to $756 per ton. Steps are being taken to increase competition in the LPG sector and ensure imports at a lower price.
