Business Desk 
Mar 07, 2026
In a surprising move, the federal government on Friday announced a major increase in petrol and diesel prices by Rs55 per litre as surging global oil prices.
Petroleum Minister Ali Pervaiz Malik with Deputy Prime Minister (DPM) Ishaq Dar and Finance Minister Muhammad Aurangzeb, during a press conference, said the new price of petrol will be Rs321.17 per litre from Rs266.17, and the diesel will cost Rs335.86 per litre from Rs280.86 after the review.
It is important to note that this sudden increase in petroleum prices is fuelled by the US‑Israel tensions with Iran, which put pressure on domestic energy costs.
Addressing the press conference, the petroleum minister said that Prime Minister Shehbaz Sharif-led government had taken the decision after deliberating on the evolving international market situation.
"We will review these prices on a weekly basis," he said, adding that the government would reduce prices promptly once the situation improved."There is no doubt that we are going through extraordinary circumstances today," he said.
New petrol price in Pakistan
| Products | Existing price w.e.f 06.03.2026 | New price w.e.f 07.03.2026 | Increase/Decrease |
High-Speed Diesel (HSD) | Rs280.86 | Rs335.86 | +Rs55 |
MS (Petrol) | Rs266.17 | Rs321.17 | +Rs55 |
The premier directed authorities to develop a dashboard to monitor the movement of petroleum products in Pakistan and share real-time data with provinces.
He issued the directions during a meeting in Islamabad, convened to review the supply and storage of petroleum products in the country amid the disruption of the supply chain due to the conflict in the Middle East.
The prime minister directed the Oil and Gas Regulatory Authority (Ogra) to cancel the licences of petrol pumps involved in hoarding and initiate legal proceedings against them.
