The premium is what Pakistan’s petrol costs above the world price. It rose from $8.00 a barrel on 30 July to $19.79 on 23 October.
Over the same dates, the world price rose by only $6.09 a barrel. Petrol rose by Rs 42.65 a litre, to Rs 377.71.
The common reading is that petrol ignores falling oil. The record shows the world price falling on all 10 sheets after 9 October.
Over those sheets, the premium rose by $3.67 a barrel. Petrol fell by Rs 21.25 a litre, from its highest price in this record.
What is the premium in the petrol price?
Each working day, the Oil and Gas Regulatory Authority (OGRA) publishes a sheet that builds up the petrol price, line by line.
Line A is the Platts quotation, a world price for finished petrol. Line B is the premium, which the sheet calls “Premium including Freight”.
The sheet ties line B to Pakistan State Oil (PSO), which imports the petrol cargoes. This is its explanation, unchanged:
“Weighted average of freight and margin of PSO cargos imported during last seven working days or in case of no imports, average of cargos imported since January 2026.”
So line B is the shipping cost and the supplier’s margin on recent PSO cargoes. It is in US dollars a barrel, like line A.
Where does the premium sit in the price?
Lines A and B are added to make line C, the cost in dollars. OGRA turns C into rupees a litre with the exchange rate.
| Line on 23 October 2026 | Letter | Printed figure |
|---|---|---|
| Platts quotation, $ a barrel | A | 117.89 |
| Premium including freight, $ a barrel | B | 19.79 |
| Cost and freight, $ a barrel | C = A + B | 137.69 |
| Exchange rate, Rs a dollar | D | 277.04 |
| Cost and freight, Rs a litre | F = C × D ÷ E | 239.93 |
| Customs duty, Rs a litre | K | 26.31 |
| Petrol price, Rs a litre | T | 377.71 |
Customs duty, line K, rests on the same cargoes. The sheet says it is charged “based on PSO cargos imported during last seven working days”.
The build-up also shows the premium in rupees a litre. That rupee figure is the record’s own calculation, not a line OGRA prints.
How much has the premium risen since 30 July?
The premium was $8.00 a barrel on 5 sheets, from 30 July to 5 August. That is its lowest in this record.
It reached $19.79 on 21 October and stayed there on 22 and 23 October. That is its highest since daily pricing began.
| Line | 30 July | 23 October | Change |
|---|---|---|---|
| Platts quotation, $ a barrel (A) | 111.80 | 117.89 | +6.09 |
| Premium, $ a barrel (B) | 8.00 | 19.79 | +11.79 |
| Cost and freight, $ a barrel (C) | 119.80 | 137.69 | +17.89 |
| Petrol, Rs a litre (T) | 335.06 | 377.71 | +42.65 |
Line B rose by $11.79 a barrel, and line A by $6.09. Each change is the difference between 2 printed sheets.
I do not split petrol’s Rs 42.65 rise between them. The sheet has other lines too, including customs duty and the exchange rate.
How often does the premium change?
Line A changed on every one of the 65 sheets after 21 July. Line B changed on only 22 of them.
So the premium moves in steps. It holds for a few days, then jumps to a new figure.
It does not only rise. Of its 22 changes, 15 were up and 7 were down.
The biggest falls were $3.18 on 5 September and $2.24 on 19 September. The biggest rise was $3.46, on 8 September.
Why does petrol fall slowly when oil falls?
Petrol reached its highest price since daily pricing began, Rs 398.96, on 9 October. Line A was also at its highest that day.
Over the next 10 sheets, line A fell every time. Petrol fell on 8 of them and rose on 2.
| Line | 9 October | 23 October | Change |
|---|---|---|---|
| Platts quotation, $ a barrel (A) | 133.52 | 117.89 | −15.63 |
| Premium, $ a barrel (B) | 16.12 | 19.79 | +3.67 |
| Cost and freight, $ a barrel (C) | 149.64 | 137.69 | −11.95 |
| Cost and freight, Rs a litre (F) | 260.91 | 239.93 | −20.98 |
| Customs duty, Rs a litre (K) | 24.94 | 26.31 | +1.37 |
| Petrol, Rs a litre (T) | 398.96 | 377.71 | −21.25 |
Line C, the dollar cost, is A plus B. It fell by $11.95, since B rose while A fell.
Customs duty went up too. Line K rose to Rs 26.31 a litre on 21 October, its highest in this record.
Line B rose on 3 of those 10 sheets. Petrol rose on 2 of those days, though line A fell on both.
| Sheet | Change in A, $ a barrel | Change in B, $ a barrel | Change in petrol, Rs a litre |
|---|---|---|---|
| 15 October | −1.32 | +1.82 | +1.20 |
| 17 October | −2.85 | +0.47 | −3.93 |
| 21 October | −1.09 | +1.38 | +0.88 |
There is a second, slower effect. Line A is itself a “seven working days’ rolling average” of the daily Platts price.
The sheet’s last line says so: “Full impact of revision in daily international price is passed-on in seven working days.”
So a fall in world prices reaches the sheet over 7 working days, not at once. How the daily price is set explains the averaging.
Why has the premium risen?
The sheet does not say. It gives the premium as 1 figure, a weighted average over PSO’s recent cargoes.
The record holds no cargo data: no ship, no freight rate, no supplier’s margin. So I cannot tell you which part of line B rose.
News reports name the premium, but give no figure for it.
On 15 October, petrol rose by Rs 1.20. Pakistan Observer reported it was due to “a sharp rise in the premium on petrol”.
The record shows line B up $1.82 a barrel that day, while line A fell $1.32.
For 20 October, the Associated Press of Pakistan reported a cut of Rs 5.16. The Petroleum Division named Platts rates, premiums and incidental charges.
On that sheet, line B did not change. Line A fell by $2.95 a barrel.
The price history shows line B on every sheet. What makes up the petrol price explains the other lines.
Common questions
What is the premium in Pakistan’s petrol price?
Line B on OGRA’s daily sheet: the freight and margin on PSO’s recent petrol cargoes. It was $19.79 a barrel on 23 October 2026.
How much has the premium risen?
From $8.00 a barrel on 30 July 2026 to $19.79 on 21 October. It stayed at $19.79 on 22 and 23 October.
Why does petrol fall slowly when oil falls?
Line A is a 7-working-day average, so a fall arrives over days. From 9 to 23 October, the premium and customs duty also rose.
Does the premium only go up?
No. It changed 22 times after 21 July 2026: 15 times up and 7 times down.
Is the premium printed in rupees?
No. OGRA prints it in US dollars a barrel. The rupee figure on this site is the record’s own calculation.
Does diesel have the same premium?
No. Diesel’s sheet prices crude oil. On 23 October its Aramco crude premium was −$1.50 a barrel, and its freight $8.00.
Sources
- Every daily petrol figure, 21 July to 23 October 2026OGRA’s daily price build-up, as this record holds itPrimary · SHA-256 archived
- The wording of lines B and K, and every figure for 23 October 2026OGRA price publication 17555, the 23 October 2026 build-upPrimary · SHA-256 archived
- The premium of $8.00 and petrol at Rs 335.06, 30 July 2026OGRA price publication 14877, the 30 July 2026 build-upPrimary · SHA-256 archived
- Petrol at Rs 398.96 and line A at $133.52, 9 October 2026OGRA price publication 17068, the 9 October 2026 build-upPrimary · SHA-256 archived
- The reported reason for the 15 October risePakistan Observer report on the 15 October petrol price risePress
- The reasons named for the 20 October cutAssociated Press of Pakistan report on the 20 October price cutPress
Every figure is printed on an OGRA sheet, or is the difference between 2 printed figures. I do not split any change in petrol between lines.