New Petrol and Diesel Prices in Pakistan Effective March 1: Heavy Hike Amid Global Market Shifts
ISLAMABAD: In a move that is expected to trigger a fresh wave of inflation across the country, the Government of Pakistan has officially announced a significant increase in petroleum product prices, effective from March 1, 2026.
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| A breakdown of the Rs 8 increase in petrol and Rs 5.16 in diesel. |
The New Price Breakdown
Following the recommendations of the Oil and Gas Regulatory Authority (OGRA), the Petroleum Division has revised the rates for the next fortnight. The price of petrol (Mogas) has been increased by Rs 8 per litre, bringing the new price to Rs 266.17. Meanwhile, High-Speed Diesel (HSD), which is crucial for the transport and agriculture sectors, saw a jump of Rs 5.16 per litre, now standing at Rs 280.86.
Why the Prices are Rising
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| Long queues at fuel stations as new prices take effect across Pakistan. |
The latest adjustment is largely attributed to the volatility in the international oil market. Global crude prices have seen an upward trend over the last two weeks due to geopolitical tensions in the Middle East and supply chain disruptions. Furthermore, the government is maintaining its revenue targets through the Petroleum Development Levy (PDL), which remains a key factor in the final retail price.
Impact on the Common Man
This hike is more than just a number; it directly affects the monthly budget of the middle and lower-middle classes. Since HSD is the backbone of heavy transport and tube wells, experts predict a subsequent rise in the costs of essential food items, including vegetables and milk.
Analysis
While the government cites global market pressure, the timing is difficult for citizens already struggling with high electricity tariffs. For businesses, the increased cost of logistics will likely be passed down to consumers, making the first half of March economically challenging for the Pakistani public.
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