Pakistan cut petrol prices by Rs3.63 per liter to Rs390.23 ($1.41), effective Friday, October 16, while high-speed diesel rose by Rs0.31 to Rs396.96 ($1.43). The daily revisions reflect volatility in global oil markets amid the Middle East conflict, with Brent crude around $106 per barrel. The petrol cut reverses a Rs1.20-per-liter increase announced for Thursday, and the Petroleum Division cited changes in Platts rates, premiums and other global events. The government has also allocated Rs75 billion ($271 million) for fuel subsidies targeting motorcycle riders, rickshaw drivers and small car owners, reaching more than 10 million beneficiaries.
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