On February 28, 2026, the government of Pakistan announced a significant increase in fuel prices, with petrol rising by Rs. 8.00 to Rs. 266.17 per litre and high-speed diesel (HSD) increasing by Rs. 5.16 to Rs. 280.86 per litre, effective from March 1, 2026. This decision comes amid rising tensions in the Gulf region, particularly following military actions involving the US and Israel against Iran, which have contributed to fluctuations in global oil prices. According to the Tribune, the price adjustments were made based on recommendations from the Oil and Gas Regulatory Authority (OGRA), stating, "The increase in its price is likely to fuel further inflation in the country." The government has also noted that despite these tensions, there is no immediate risk of supply disruption due to adequate domestic stocks of crude oil and petroleum products, as reported by the Oil Companies Advisory Committee (OCAC).
BUSINESS
Pakistan Government Increases Fuel Prices Amid Gulf Tensions
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On Feb 28, 2026, Pakistan raised fuel prices amid Gulf tensions, with petrol at Rs. 266.17 and diesel at Rs. 280.86, likely increasing inflation and impacting middle-class budgets significantly.
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STstartuppakistan.com.pk
TLtribune.com.pk
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