Petrol prices in Pakistan today are Rs346 per litre, after the government cut the price by Rs6.59 per litre under a notification from the Oil and Gas Regulatory Authority (OGRA), the regulator that issues official fuel rates. High-speed diesel falls by Rs4.25 per litre, to Rs378. The new rates apply for four days, from November 7 to 10, and mark the fifth consecutive cut in fuel prices in recent days and weeks.
The reduction came even as fears grew of renewed fighting between the United States and Iran. Washington said it had carried out fresh limited strikes against Iran early on Saturday. Pakistan had consistently raised domestic fuel prices since the US-Iran war broke out in February, after Washington and Tel Aviv launched joint airstrikes against Iran. In recent weeks, however, prices have been cut five times in a row while the two sides engaged in indirect peace talks through Qatari mediators.
Timeline: what has happened so far
- February: The US-Iran war began after Washington and Tel Aviv launched joint airstrikes against Iran.
- Recent weeks: Pakistan cut petroleum prices five times in a row while indirect talks through Qatari mediators continued.
- Friday: Brent crude futures for January settled at $98.32 a barrel, and Trump said he would soon decide whether to pursue a peace agreement.
- Saturday: Washington said it carried out fresh limited strikes on Iran, and Iranian state media reported two explosions in the Suza area of Qeshm Island.
- Monday: The US military reported defensive strikes, and explosions were heard on the islands of Qeshm and Hengam and in the mainland area of Bandar Abbas.
- November 7 to 10: The new petrol and diesel rates apply.
Talks and strikes continue
US President Donald Trump has alternated between threatening to "destroy" Iran and suggesting that a resolution to the war is near. He said he would soon decide whether to pursue a peace agreement or destroy what remains of the country. His Republican party had earlier suffered an electoral setback at the hands of the Democrats in the midterm elections.
Iranian state media reported the explosions near Qeshm Island, in the Strait of Hormuz, a waterway crucial for oil shipments. Trump described the military action as "minor." Oil markets reflected the uncertainty: Brent crude settled at $98.32 a barrel, up 3 cents, while US West Texas Intermediate finished at $90.83 a barrel, up 31 cents.
On the diplomatic side, two Middle East government officials said Iran was reviewing proposals presented by Qatar, the chief mediator, on its nuclear programme. One of them stressed that Iran remained unwilling, for now, to negotiate with the Trump administration over its nuclear activities until the US accepted several core conditions Iran has demanded in any ceasefire. The nuclear issue is the most difficult point, and Trump insists it must be resolved as part of any deal to end the war, which is now more than eight months old.
The new fuel rates are fixed for four days, so the next change will depend on the government's next notification. For readers checking petrol prices in Pakistan today, the key point is that the cut is short-term while the wider conflict remains unresolved.
Aasan alfaaz mein
Petrol ki qeemat Rs6.59 kam hokar Rs346 per litre ho gayi hai, aur diesel Rs378 per litre par aa gaya hai. Yeh nai qeemat 7 se 10 November tak lagu rahegi. Amreeka aur Iran ke darmiyan jang aur baatcheet ki wajah se aage qeemat dobara badal sakti hai. Gaari ya motorcycle chalane walon ke liye yeh kuch raahat hai, lekin aage ka faisla agli notification par hoga.
