ISLAMABAD:
Amid Gulf tensions that may lead to a fresh rise in oil prices, the government on Saturday increased the price of petrol by Rs 8 per liter from March 1, 2026. It also increased the price of diesel by Rs 5.16 per liter for the next fortnight until March 15.
As international markets inched higher, the government increased prices based on calculations made by the Oil and Gas Regulatory Authority (OGRA).
The new price per liter of petrol is Rs 266.17, while diesel will cost Rs 280.86.
However, 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 that there is no immediate risk of supply disruption despite the evolving security situation in the Gulf region.
Sources at the Oil Companies Advisory Committee (OCAC) said the key fuel for civil and military aviation is jet fuel, and its stocks have been maintained above normal levels, mainly by the Pakistan Air Force and Army Aviation.
The Petroleum Division, in a statement, said the government had increased the prices of petroleum products following OGRA recommendations.
High Speed Diesel (HSD) is used in the agriculture and transportation sectors. The increase in its price is likely to drive higher inflation in the country.
Petrol 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 (OMC) recorded combined sales of over one million tonnes of petrol and diesel during February 2026. Petrol sales stood at 588,000 metric tonnes while diesel sales stood at 476,000 metric tonnes during the month.
The daily sales volume of gasoline stood at 21,000 tons, while High Speed Diesel sales were 17,000 tons per day. In January 2026, gasoline sales amounted to 641,000 tons, up 3% year-on-year and 2% month-on-month.
High-speed diesel sales reached 664,000 tonnes, up 11% year-on-year and 20% month-on-month as agricultural and transportation demand improved.
Analysts said lower fuel prices and post-strike recovery 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 automobile production in recent months, further boosting demand for gasoline.
Pakistan’s petroleum product sales rose to 1.52 million tonnes in January 2026, recovering from the nationwide strike in December and reflecting lower prices at the pump that spurred transportation and industrial demand.
Sales volumes were up 10% from a year earlier and 12% from December, according to industry figures compiled from disclosures by oil marketing companies.
Cumulative sales during July-January FY26 reached 9.7 million tonnes, up 3% from 9.4 million tonnes in the same period last year.
