Pakistan Raises Petrol, Diesel Prices by 55 Rupees

Pakistan's government announced a sharp increase in petrol and high-speed diesel prices late on March 7, 2026, raising each by 55 Pakistani rupees per litre amid escalating global oil costs triggered by conflict in the Middle East. The decision, effective from midnight on March 8, sets the ex-depot price of petrol at 321.17 rupees per litre, up about 17 percent from 266.17 rupees, and high-speed diesel at 335.86 rupees per litre, a roughly 20 percent rise from 280.86 rupees.

Petroleum Minister Ali Pervaiz Malik, joined by Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb, detailed the hike during a press conference in Islamabad just before midnight. The move marks the first major economic adjustment in Pakistan following the outbreak of hostilities involving Iran, Israel, and the United States, which have disrupted key energy supply routes. Officials attributed the surge to a 50 to 70 percent jump in international oil prices over recent days, with the average Platts price for petrol climbing 37 percent to 106.80 dollars per barrel and diesel rising 70 percent to 150 dollars per barrel.

The conflict has created widespread uncertainty in...