Islamabad, March 7, 2026 — In an overnight move described by officials as the largest single increase so far, Pakistan raised the ex-depot prices of petrol and high-speed diesel by PKR 55 per litre each, citing spillover effects from the conflict in the Middle East.
The government set petrol at PKR 321.17 per litre, up from PKR 266.17, and high-speed diesel at PKR 335.86 per litre, up from PKR 280.86 — increases of roughly 17 percent and 20 percent respectively. The announcement was made late at night by Petroleum Minister Ali Pervaiz Malik alongside Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.
Officials attributed the hike to disruptions in global energy supplies after tensions linked to Iran and consequences for shipping through the Strait of Hormuz. Malik said the regional crisis has driven up international prices and created uncertainty over how long the disruption will last. He warned authorities will act against hoarding and artificial shortages and noted that two Pakistani oil tankers are being routed by alternative paths.
The government said it will move to weekly petroleum price reviews to respond more quickly to market volatility and pledged to lower domestic prices as soon as international conditions permit. Dar told reporters that global oil rates have risen by an estimated 50 to 70 percent because of the crisis and defended the step as an attempt to balance consumer burden with market realities. Aurangzeb said Pakistan currently holds comfortable petroleum reserves and that policymakers are monitoring the economic situation closely.
The price rise came after officials decided to defer a proposed national action plan that had included work-from-home and distance-learning contingency measures in anticipation of a fuel squeeze. Prime Minister Shehbaz Sharif chaired a high-level meeting on reserves and the government opted to keep normal activity unchanged for at least a week.
Ahead of the increase, motorists formed long queues at petrol stations in several cities to buy fuel at the lower rates, media reports said. Earlier this week, the government had already agreed in principle to begin weekly fuel price adjustments from March 8 and to pursue measures to conserve fuel should supply disruptions continue.
