Pakistan Fuel Price Hike: Petrol and Diesel Costs Increase in March 2026

The Government of Pakistan has announced an increase in the prices of petrol and high-speed diesel (HSD) effective March 1, 2026. This adjustment comes following recommendations from the Oil and Gas Regulatory Authority (OGRA) [1].

Price Adjustments

According to a press release issued by the Petroleum Division [3], petrol prices have risen by Rs8 per litre, increasing from Rs258.17 to Rs266.17. High-speed diesel (HSD) prices have increased by Rs5.16 per litre, now standing at Rs280.86.

Impact on Consumers

Petrol is primarily used by owners of private transport, tiny vehicles, rickshaws, and two-wheelers, directly impacting the budgets of middle and lower-middle-class families. HSD is crucial for heavy transport and has broader inflationary implications. It fuels heavy transport vehicles, trains, and agricultural machinery such as trucks, buses, tractors, tube-wells, and threshers, ultimately influencing the prices of essential goods like vegetables and food items.

Regulatory Oversight

The Oil and Gas Regulatory Authority (OGRA) plays a key role in regulating the oil and gas sector in Pakistan [2]. The Petroleum Division, operating under the Ministry of Energy, is responsible for ensuring a secure and sustainable supply of oil and gas to meet the country’s economic and strategic needs [1]. The division also oversees the development of natural energy resources and minerals.

Historical Context

The Petroleum Division was initially established in April 1977 as the Petroleum & Natural Resources Division. Before this, it was part of the Ministry of Fuel, Power and Natural Resources. In August 2017, the Petroleum Division was merged into the Ministry of Energy [1].