In a move reflecting the deepening global energy crisis, the federal government of Pakistan has announced a historic increase in petroleum prices, effective from March 7, 2026. Following a late-night high-level briefing, officials confirmed that the prices of petrol and High-Speed Diesel (HSD) have both been raised by Rs 55 per litre.
Under the new notification, the price of petrol now stands at Rs 321.17 per litre, while High-Speed Diesel has reached Rs 335.86 per litre.
This drastic adjustment was announced by Petroleum Minister Ali Pervaiz Malik, flanked by Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb. The ministers attributed the hike to “unprecedented” regional instability, specifically citing the impact of conflict in the Middle East and disruptions in the Gulf region, which have caused international oil prices to skyrocket by nearly 70% in a single week.
Beyond the price increase, the government has officially shifted its pricing strategy. Moving away from the traditional fortnightly review, Pakistan will now implement a weekly price adjustment mechanism. This policy change is intended to protect Oil Marketing Companies (OMCs) from mounting freight and insurance costs and to ensure that domestic rates align more fluidly with the volatile global market.
Addressing concerns over inflation and supply, Finance Minister Muhammad Aurangzeb stated that the government is in constant contact with regional partners to seek de-escalation while ensuring that the national fuel supply remain stable. Prime Minister Shehbaz Sharif has also issued a stern directive to all provincial administrations to launch a crackdown on fuel hoarding to prevent artificial shortages across the country.
While the government acknowledged the burden this places on the public, Minister Malik emphasized that the administration is committed to reducing prices immediately should the international market stabilize.
Quick Price Comparison (PKR/Litre)
Petrol: Rs 266.17 Now Rs 321.17 (+Rs 55)
Diesel: Rs 280.86 Now Rs 335.86 (+Rs 55)
