In a partial reversal of the 13 May hike, the Government of Pakistan, on the recommendation of OGRA (Oil and Gas Regulatory Authority), has cut fuel prices effective 16 May 2026. The today petrol price in Pakistan now stands at Rs. 409.78 per litre for MS Petrol (RON 92), down by Rs. 5.00 from the previous rate of Rs. 414.78.
High Speed Diesel (HSD), the most consumed fuel by volume in the country, has also been cut by the same margin, falling Rs. 5.00 to Rs. 409.58 per litre. Hi-Octane (RON 95) is now retailing at Rs. 440.00 per litre at PSO outlets nationwide.
Quick summary – OGRA notification 16 May 2026
- Petrol (RON 92): Rs. 409.78/L (▼ Rs. 5.00)
- Hi-Octane (RON 95): Rs. 440.00/L (▼ Rs. 5.00)
- High Speed Diesel (HSD): Rs. 409.58/L (▼ Rs. 5.00)
- Kerosene Oil: Rs. 318.96/L (unchanged)
- Light Diesel Oil (LDO): Rs. 265.84/L (unchanged)
- LPG: Rs. 304.12/kg (▲ Rs. 0.31)
- Effective: 00:00 hours, 16 May 2026, next review 1 June 2026
Why has the petrol price decreased in Pakistan?
The OGRA petrol price Pakistan formula is mechanical, not political. The 16 May cut was driven by three factors, in order of weight:
- International crude (Arab Light): Benchmark crude eased roughly 2% in the three days following the 13 May notification on profit-taking and easing supply concerns. This alone trimmed an estimated Rs. 2–3 per litre off the ex-refinery price.
- USD/PKR exchange rate: The rupee strengthened modestly against the dollar during the same window, contributing an additional Rs. 1–2 per litre of relief.
- Government relief measure: The Finance Ministry signalled tolerance for absorbing a small portion of the PDL/IFEM margin to ease the burden after the steep 13 May hike. That accounts for the remaining Rs. 1–2 per litre of the Rs. 5.00 cut.
City-wise impact – today petrol price in Karachi, Lahore & Islamabad
Because the OGRA notification sets a single ex-depot price, the today petrol price in Karachi is virtually identical to Lahore, Islamabad, Rawalpindi and Peshawar, pump-to-pump variation is limited to PSO/Shell/Total dealer margins and IFEM adjustments for distance.
| City | Petrol RON 92 | HSD Diesel | Hi-Octane |
|---|---|---|---|
| Karachi | Rs. 409.78 | Rs. 409.58 | Rs. 440.00 |
| Lahore | Rs. 408.50 | Rs. 408.50 | Rs. 440.00 |
| Islamabad | Rs. 409.78 | Rs. 409.58 | Rs. 440.00 |
| Peshawar | Rs. 410.20 | Rs. 410.00 | Rs. 440.00 |
| Quetta | Rs. 412.20 | Rs. 411.80 | Rs. 440.00 |
| Gilgit | Rs. 413.00 | Rs. 412.80 | Rs. 440.00 |
How does this compare with the last 6 months?
The petrol price in Pakistan has seen the steepest 6-month climb on record. In mid-November 2025, RON 92 was trading at just Rs. 265.45 per litre. By 13 May 2026 it had climbed to Rs. 414.78. The 16 May cut brings it modestly back down to Rs. 409.78, still a cumulative jump of Rs. 144.33 (≈ 54%) over six months. See the complete history archive for every fortnightly notification.
"OGRA's fortnightly mechanism transmits global oil shocks into the local pump price with a two-week lag. The 16 May cut of Rs. 5 reflects easing global crude and a modest rupee recovery, but the underlying trajectory remains firmly upward.", Energy analyst commentary
What's next? Will OGRA cut the petrol price on 1 June 2026?
The next OGRA review is due on 1 June 2026. Two leading indicators to watch:
- Brent and Arab Light spot prices over the last week of May.
- The USD/PKR rate, which the SBP has been actively defending around the 305 mark.
If crude eases and the rupee holds, a modest cut of Rs. 3–6 per litre is plausible. A second hike of similar magnitude cannot be ruled out if global tensions push Brent above $90.
Sources & verification
- OGRA, Official Notifications
- PSO Fuel Prices, retail board
- PakWheels, Petroleum Prices in Pakistan
- Shell Pakistan, Station Price Board