ISLAMABAD:
Amid Gulf tensions that may lead to a further rise in oil prices, the government on Saturday raised the price of petrol by Rs8 per liter with effect from March 1, 2026. It also raised the price of diesel by Rs5.16 per liter for the next fortnight till March 15.
As international markets have rallied, the government raised prices based on calculations made by the Oil and Gas Regulatory Authority (OGRA).
The new liter price of petrol is Rs 266.17 while diesel will cost Rs 280.86.
Despite the war in the Middle East, the oil industry on Saturday assured the government that Pakistan has ample reserves of crude oil and petroleum products and there is no immediate risk of supply disruption despite the evolving security situation in the Gulf region.
Oil Companies Advisory Committee (OCAC) sources said the key fuel for both civil and military aviation is jet fuel and its stock has been kept above normal levels, mainly by Pakistan Air Force and Army Aviation.
The petroleum division said in a statement that the government had increased the prices of petroleum products following the recommendations of OGRA.
High Speed Diesel (HSD) is used in the agricultural and transportation sectors. The increase in price is likely to fuel further inflation in the country.
Gasoline is used in motorcycles and cars and its consumption has almost doubled due to the ban on the use of indigenous gas in the CNG sector, especially in Punjab.
Oil marketing companies (OMCs) recorded combined sales of over one million tonnes of petrol and diesel during February 2026. Petrol sales stood at 588,000 tonnes while diesel sales stood at 476,000 tonnes during the month.
The daily sales volume of petrol was 21,000 tonnes, while the sale of high-speed diesel was 17,000 tonnes per day. In January 2026, gasoline sales stood at 641,000 tonnes, an increase of 3% year-on-year and 2% month-on-month.
High-speed diesel sales reached 664,000 tonnes, marking an 11% year-on-year increase and a 20% month-on-month increase as freight and agricultural demand improved.
Analysts said lower fuel prices and recovery after the strike lifted Pakistan’s oil sales to 1.52 million tonnes in January, up 10% year-on-year and 12% month-on-month, according to industry data.
They added that the country had also witnessed record car production in recent months, further boosting petrol demand.
Pakistan’s sales of petroleum products rose to 1.52 million tonnes in January 2026, rebounding from December’s nationwide strike and reflecting lower pump prices that spurred transport and industrial demand.
Sales volume rose 10% from a year earlier and 12% from December, according to industry figures compiled from oil marketing company data.
Total sales during July-January FY26 reached 9.7 million tonnes, up 3% from 9.4 million tonnes in the same period last year.
