ISLAMABAD: Petroleum rates have been revised upward by a maximum of Rs 8 per litre affective from March 1 (today). The adjustment reflects a bullish trend in international oil markets, driven by geopolitical instability and anticipated supply constraints following targeted attacks on Iran by the U.S. and Israel.
The price of petrol is increased by 3 percent (Rs 8 per litre), while high-speed diesel (HSD) is gone up by Rs5.16 per litre or 1.8 percent.
Following the revision, the price of petrol is now gone up from Rs 258.17 to Rs 266.17 per litre, whereas, the rate of HSD is also raised from Rs 275.70 to Rs 280.86 per litre for fortnight ending on March 15.
Sources said that the rate of petroleum levy (PL) has been kept unchanged at Rs 84.40 per litre on petrol and Rs 76.21 per lire on HSD. But no notification has been issued till filing of the report.
Government has already achieved half yearly target of PL of Rs 850 billion (July-December 2025) against a budgetary target of Rs 1.4 trillion.
In the previous fortnight review on February 15, the federal government had raised the prices of petrol and HSD by Rs5 and Rs7.32 per litre, respectively.
Globally, oil prices rose about 3 percent in last two-week as traders remained on alert for potential supply disruptions after the United States and Iran tension. Brent crude futures advanced by $2.09, or around 3 percent, to $72.84 a barrel while US West Texas Intermediate crude was up $2.33, or around 3.6 percent, at $67.54.
The Brent and WTI benchmarks were trading at their highest since July and August, respectively, and poised to register weekly gains of 1.6 percent and 1.7 percent.
Copyright Business Recorder, 2026
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