In a move that shocked millions of Pakistanis on the night of March 6, 2026, the government announced the single largest fuel price increase in the country’s history, and within minutes, petrol pumps across every major city were flooded with long lines of desperate motorists.
Deputy Prime Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, and Petroleum Minister Ali Pervaiz Malik jointly announced the decision late Friday night, stating that the government had been monitoring the situation for several days through a committee formed by Prime Minister Shehbaz Sharif.
Petrol jumped from Rs 266.17 to Rs 321.17 per litre, while high-speed diesel surged from Rs 280.86 to Rs 335.86 per litre, both rising by a massive Rs 55 per litre, effective from midnight.
DPM Dar explained that global petroleum prices had surged by 50 to 70 percent due to the ongoing conflict between Iran, the US, and Israel, and that the war had now begun to spill over into the wider region.
On March 1, crude oil stood at $78 per barrel. By March 6, it had jumped to $108 per barrel, while diesel surged past $150 per barrel on international markets.
After the announcement, petrol pumps in Karachi, Lahore, and Islamabad witnessed a massive rush of vehicles as citizens attempted to fill their tanks before the new rates fully kicked in, with long queues stretching well past midnight.
To secure alternative oil supplies, Pakistan’s Petroleum Minister had already requested Saudi Arabia to facilitate shipments through the Red Sea port of Yanbu, after Iran’s closure of the Strait of Hormuz threatened a major portion of Pakistan’s energy imports. Saudi authorities confirmed they would help.
The Rs 55 hike is expected to immediately push up transport fares, food prices, and the cost of everyday essentials, hitting middle and lower income families the hardest.
