In a significant development impacting consumers and the economy, the prices of various petroleum products in Pakistan have recorded a steep increase of up to Rs147.93 per liter over a span of just 35 days, from February 1 to March 7, 2026. Official data highlights that during this period, the government revised petroleum prices upwards four times, reflecting volatile global oil markets and domestic adjustments.
Sharpest Rise in Kerosene Oil Prices
The most dramatic surge was observed in kerosene oil, which saw an increase of Rs147.93 per liter. This was followed by high-speed diesel, which rose by Rs78.78 per liter, and petrol, which increased by Rs68 per liter. Since January 31, 2026, the cumulative hikes have been substantial, with petrol climbing from Rs253.17 to Rs321.17 per liter, high-speed diesel from Rs257.8 to Rs335.86 per liter, and kerosene oil from Rs170.88 to Rs318.81 per liter.
Detailed Breakdown of Price Revisions
The price adjustments occurred in multiple phases. For the first fortnight of February, high-speed diesel was increased by Rs11.30 per liter, bringing it to Rs268.38 per liter, while petrol prices remained unchanged. In the second fortnight of February, petrol saw an increase of Rs5 per liter, and high-speed diesel rose by Rs7.32 per liter, resulting in prices of Rs258.17 and Rs275.70 per liter, respectively.
Moving into March, for the first fortnight, petrol was further increased by Rs8 per liter to Rs266.17 per liter, and high-speed diesel by Rs5.16 per liter to Rs280.86 per liter. However, a major revision on March 6, effective from March 7, led to the most significant jump, particularly for kerosene oil, which was enhanced by Rs130.08 per liter, taking it to Rs318.81 per liter.
Impact and Broader Context
This rapid escalation in petroleum prices has raised concerns among various sectors, including agriculture, where the Kissan Ittehad has urged the government to impose an agricultural emergency to mitigate the effects on farming costs. The fluctuations are attributed to abnormal changes in global oil prices, prompting the government to make frequent adjustments to align with international market trends.
As Pakistan grapples with these increases, the broader economic implications are being closely monitored, with potential impacts on inflation, transportation, and daily living expenses. The situation underscores the interconnectedness of global energy markets and local economic policies.
