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Petrol, diesel prices Pakistan are expected to increase from March 1, 2026, following a surge in global oil rates, sources confirmed on Friday.
Petrol and Diesel Price Increase
The federal government may raise petrol prices by Rs4.58 per litre and high-speed diesel (HSD) by Rs4.73 per litre. Kerosene is also expected to rise by Rs6.88 per litre, while light diesel oil (LDO) may see an increase of Rs5 per litre.
Currently, following the last fortnightly adjustment on February 15, petrol stands at Rs258.17 per litre, while diesel is priced at Rs275.7 per litre. At that time, petrol was increased by Rs5 and HSD by Rs7.32 per litre.
International Oil Market Trends
Global crude oil prices surged approximately 3% on Friday amid renewed tensions and uncertainty over the US-Iran nuclear talks.
- Brent crude futures rose by $2.09 to $72.84 per barrel.
- US West Texas Intermediate (WTI) increased by $2.33 to $67.54 per barrel.
Both benchmarks are trading at their highest levels since July (Brent) and August (WTI), with weekly gains of around 1.6% and 1.7% respectively.
Analyst Insights
Tamas Varga, an oil analyst at brokerage PVM, noted:
“Uncertainty prevails, fear is pushing prices higher today. It is completely driven by the outcome of the Iranian nuclear talks and possible military action the US might take against Iran.”
The recent talks between the US and Iran in Geneva were indirectly mediated, following a military buildup in the region ordered by Donald Trump. Oil prices initially jumped on reports of stalled negotiations over Iran’s uranium enrichment but eased after the Omani mediator indicated progress.
Implications for Pakistan
With the domestic fuel prices set to rise again, Pakistani consumers and businesses may face increased transportation and logistics costs, adding further pressure on household and industrial budgets. Analysts advise monitoring international oil trends, as further volatility could impact subsequent pricing cycles.
