Will petrol prices in Pakistan increase by Rs55 per litre tomorrow?

2026-03-26 - 07:20

ISLAMABAD – The federal government is all set for the weekly review of petroleum prices in Pakistan tomorrow (Friday) amid fears of an increase in petrol and diesel rates. Reports have surfaced suggesting that Pakistan may see a significant increase in petroleum product prices, with proposals indicating a possible rise of up to Rs55 per liter for petrol and Rs75 for high-speed diesel. Concerns over inflation have heightened public unease. Federal Minister Addresses Concerns Federal Minister for Petroleum, Ali Pervaiz Malik, clarified that major price changes are not imminent. Speaking to a private news channel, he highlighted that Pakistan imports around 90 percent of its petroleum products from Gulf countries. The government has taken measures to ensure continuity in the supply chain, and the country currently holds a 26-day stock of petroleum products. Regulatory Steps Ahead The Oil & Gas Regulatory Authority (OGRA) is preparing a working document on new petrol prices to be submitted to the Petroleum Division by Friday. The final proposal will then go to Prime Minister Shahbaz Sharif for approval, after which official announcements on price adjustments will be made. Staggered Increases and Subsidy Options Government sources indicated that price hikes may be implemented gradually over a two-week period to avoid sudden financial pressure on consumers. Another option under consideration is providing subsidies to maintain current price levels, depending on the federal budgetary capacity. Relief Fund Allocated To cushion the impact on citizens, the federal government has allocated Rs 27 billion to OGRA under the price differential claims. Funds were provided from the austerity fund following directives from the Prime Minister, ensuring continued relief from rising fuel costs. IMF Engagement Separately, Pakistan is engaged with the IMF for the next $1.2 billion tranche under the loan program. Discussions on the Memorandum of Economic and Financial Policies are ongoing, with IMF emphasizing measures to increase tax and non-tax revenue. Proposals include a Rs5 per liter levy increase on petrol and diesel after high-octane fuels, alongside a Rs 100 billion reduction in the development budget. Current Petrol, Diesel Prices in Pakistan Currently, the petrol price in Pakistan stands at Rs321.17 per litre while diesel is being sold for Rs335.86 per litre. The price of high-octane petrol hovers at Rs610 per litre after a recent massive hike of Rs200.