ISLAMABAD (Kashmir English): Prime Minister Shehbaz Sharif on Friday announced to keep the diesel and petrol prices unchanged for the next week, according to the Prime Minister’s Office (PMO).
With this decision, the retail price of petrol will remain fixed at Rs321.17 per litre, while diesel will be sold at the previous price of Rs 335.86 per litre across Pakistan.
The PMO statement added that the “Prime Minister has decided not to increase the prices of petroleum products this time, as per his promise to the public, despite a further increase in oil prices in the global market.”
The premier said that prices are not being increased to reduce the burden on the common man.
He highlighted that due to the efforts of the diplomatic and economic team, adequate quantities of crude oil are available for the country’s needs.
“The federal and provincial governments are working together to ensure that no one is charged more than the price fixed by the government,” the premier stated.
“As per our promise, we will provide relief to the people in these difficult circumstances as much as possible.” PM Shehbaz was quoted as saying.
According to the PMO statement, Shehbaz stated that the global economy is currently under pressure due to tensions in the region, which is likely to have a profound impact on the economy of Pakistan.
“Thanks to timely policy-making, austerity measures by the government and financial discipline, efforts are being made to deal with this situation humanely,” the Prime Minister maintained.
The premier appraised the provincial governments for fully supporting the federal government in these austerity measures.
Petrol prices in Pakistan
On March 6, the federal government increased the diesel and petrol prices by Rs55 per litre starting tonight, Petroleum Minister Ali Pervaiz Malik said, citing the surge in global prices due to the ongoing Iran-Israel and US military conflict.
Addressing the press conference along with Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb, the petroleum minister said that the new petrol price has been fixed at Rs321.17 per litre, effective from March 7, 2026.
Similarly, diesel price, with an increase of Rs55 per litre, would now be available for Rs 335.86 per litre from 275.7.
Weekly revision of petrol prices approved
Last week, Prime Minister Shehbaz Sharif approved the weekly revision of prices of petroleum products in view of the changing regional situation.
Previously, the revision of prices of petroleum products was being done after every fortnight. The federal cabinet gives final approval to the price revision summary submitted by the Oil and Gas Regulatory Authority (Ogra).
A meeting of the Committee on Petroleum Products Stock and Consumption was held under the chairmanship of Prime Minister Shehbaz Sharif, in which the Finance Minister briefed the Prime Minister.
According to sources, the committee submitted recommendations regarding the determination of weekly prices of petroleum products, which were approved by the premier.
Sources said that the Economic Coordination Committee (ECC) will give recommendations regarding the weekly prices of petroleum products. After approval from the ECC, the federal cabinet will give final approval to the summary of petroleum products.
