Fuel prices unchanged for week despite global oil spike

The federal government on Saturday announced that prices of petroleum products will remain unchanged for the next week, starting March 14, 2026, according to a press release issued by the Ministry of Energy (Petroleum Division).

As per the notification, the price of High Speed Diesel (HSD) has been maintained at Rs335.86 per litre, while Motor Spirit (petrol) will continue to be sold at Rs321.17 per litre.

The announcement comes after Prime Minister Shehbaz Sharif on Friday announced that the government will maintain the current prices for petroleum products, despite rising international oil prices, in line with his pledge to shield ordinary citizens from additional financial burdens.

According to a statement issued by the Prime Minister’s Office, Prime Minister Sharif said the decision was taken to provide relief to citizens amid challenging economic conditions.

“As promised, we are striving to deliver as much relief as possible to the people during these difficult times,” he stated.

The prime minister cited regional tensions and pressures on the global economy as factors that could significantly impact Pakistan’s economic stability.

He emphasised that timely policy-making, government austerity measures, and fiscal discipline were key tools in mitigating these effects.

He highlighted that federal and provincial governments were jointly implementing the austerity measures, a collaboration he described as “encouraging.”

Last week, the government announced a hike of Rs55 per litre in the prices of petrol and diesel in line with increasing international oil prices. The petrol price jumped to Rs321.17 per litre, and the diesel price soared to Rs335.86 per litre.

The international oil prices have increased with the escalating crisis in the Middle East after the United States and Israel launched strikes on Iran, killing its Supreme Leader, Ayatollah Ali Khamenei.