The federal government has announced a significant increase in petroleum prices for the next 15 days, raising the rate of high-speed diesel by Rs. 5.16 per litre and petrol by Rs. 8 per litre, according to a notification issued by the Petroleum Division.
The revised prices have taken effect from March 1, 2026, following recommendations by the Oil and Gas Regulatory Authority (OGRA). Officials cited rising global oil prices triggered by escalating tensions in the Middle East as the key reason behind the increase.
Under the new rates, high-speed diesel has been fixed at Rs. 280.86 per litre, compared to the previous Rs. 275.70 per litre. Meanwhile, the price of motor spirit (petrol) has been raised to Rs. 266.17 per litre for the upcoming fortnight.
The hike comes after the United States and Israel launched joint military strikes on Iran on Saturday, sending shockwaves through global commodity markets. Analysts warn that further escalation in the region could lead to additional pressure on international crude oil prices, potentially impacting domestic fuel costs in the coming weeks.
According to the official notification, the revised prices will remain in force for the next 15 days and will be reviewed again in line with prevailing international market trends.
The latest increase is expected to have a ripple effect on transportation costs and inflation, adding to economic challenges faced by consumers across the country.
