Petrol and diesel rates may go up from March 1

Petroleum product prices are likely to rise this week, with revised rates expected to take effect from 1st March 2026 if approved by the government.

Brokerage firm Arif Habib Limited has projected a possible increase in petroleum prices in the upcoming review, mainly due to rising crude oil rates in the global market. According to its estimates, petrol and high-speed diesel prices may witness a noticeable hike. The report suggests that the price of motor spirit, commonly known as petrol, could increase by Rs5.13 per liter.

If approved, the new petrol price may reach Rs263.30 per liter. Similarly, high-speed diesel is expected to rise by Rs6.80 per liter, potentially taking its price to Rs282.50 per liter. Furthermore, the projected increase is linked to a 2.7 percent rise in the price of Arab Light crude in the international market. In addition, a slight increase in import spreads has also contributed to the upward pressure on local fuel prices.

As Pakistan relies heavily on imported petroleum products, global market trends directly impact domestic rates. In the previous fortnightly review, the federal government had already increased the price of high-speed diesel to Rs275.70 per liter, while petrol was set at Rs258.17 per liter. Therefore, the proposed hike, if implemented, will further raise fuel costs for consumers.

Experts believe that higher fuel prices may increase transportation and production costs, which could ultimately affect inflation. Consequently, businesses and the public are closely monitoring the government’s upcoming decision. Overall, the expected revision reflects global market volatility and its influence on Pakistan’s energy sector. The final prices will be announced after the government completes its review process, taking into account international oil trends and economic considerations.