Petrol Cut by Rs7.06 to Rs362, Diesel Down Rs3.71 in Third Reduction This Week

The petrol price today has been cut by Rs7.06 per litre to Rs362, while high-speed diesel has been reduced by Rs3.71 per litre to Rs387.81, with the new rates taking effect from midnight on Thursday, November 5, 2026. It is the third reduction in fuel prices in four days.

According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) worked out the revised prices under the government’s pricing mechanism. The adjustment follows movements in international oil prices, including Platts rates, premiums and other incidental costs. The rates have been notified for one day, as fuel prices are now being revised on a daily basis.

Petrol Price Today: New Rates From November 5

Three Fuel Price Cuts in Four Days

This is the third straight reduction this week. Before the first cut on November 2, petrol was selling at Rs377.91 and diesel at Rs402.96 per litre. Since then, petrol has come down by Rs15.91 and diesel by Rs15.15 per litre.

How the Petrol Price Today Affects You

Compared with last week’s rates, before the three cuts:

• Motorcycle rider using 30 litres of petrol a month: saves about Rs477.
• Car owner using 100 litres a month: saves about Rs1,591.
• Transporter using 1,000 litres of diesel a month: saves about Rs15,150.

Lower diesel prices matter most for the wider economy, because diesel runs goods transport, buses, tractors and tubewells. Whether fares and freight charges come down will decide how much relief ordinary people actually feel, at a time when inflation stood at 9.61 percent in October.

Petroleum Levy Talks and Refinery Prices

The cuts come as the government holds talks with Jamaat-e-Islami over fuel prices. JI says the government has agreed to abolish the petroleum levy, though the government has not formally announced such a decision. The government has also asked refineries for a discount of Rs15 per litre on petrol, while petroleum dealers have claimed that an audit of refineries could bring prices down by Rs40 to Rs50 per litre, a claim the government has not confirmed.

What Happens Next

With rates now being set daily in line with global markets, prices can move in either direction from one day to the next. Global oil prices remain sensitive to the US-Iran conflict and mediation efforts, and any final decision on the petroleum levy, which makes up a large part of the pump price, would be the biggest factor in the next change.

For official updates, visit the Oil and Gas Regulatory Authority (OGRA) website.

Read More: Govt Cuts Petrol by Rs5.45 and Diesel by Rs3.68, Second Fuel Price Reduction This Week