The new petrol price in Pakistan has risen sharply to Rs321.17 per litre, following a massive Rs55 increase announced by the federal government amid global oil market turmoil triggered by the Iran–US–Israel conflict.
The revised fuel prices came into effect from February 7, 2026, significantly raising transportation and energy costs for consumers across the country.
Pakistan Petrol Prices – February 2026
|
Products |
Old Price (Rs) |
New Price (Rs) |
Increase |
|
High Speed Diesel (HSD) |
280.86 |
335.86 |
+55.00 |
|
Motor Spirit (Petrol) |
266.17 |
321.17 |
+55.00 |
Under the new rates, motor spirit (petrol) jumped from Rs266.17 to Rs321.17 per litre, while high-speed diesel (HSD) increased from Rs280.86 to Rs335.86 per litre, marking a 17% surge in fuel prices nationwide.
Also Read: Petrol and diesel prices suddenly jump Rs55 per litre late at night
Government Explains Reasons Behind Petrol Price Hike
The announcement was made during a press conference by Petroleum Minister Ali Pervaiz Malik, alongside Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.
According to officials, the price increase was unavoidable due to sharp global petroleum price spikes, driven largely by escalating geopolitical tensions in the Middle East.
Ishaq Dar stated that the Iran–US–Israel conflict has pushed global oil prices up by 50–70%, creating pressure on fuel-importing countries like Pakistan.
Government Monitoring Oil Crisis
Officials confirmed that Prime Minister Shehbaz Sharif is closely monitoring the evolving situation. A permanent government committee headed by Ali Pervaiz Malik and Muhammad Aurangzeb has been formed to evaluate global oil market developments and recommend policy responses.
Another committee led by Ishaq Dar is also engaging with key stakeholders to explore ways to reduce the economic burden on citizens.
Economic Impact and Future Fuel Price Review
Finance Minister Muhammad Aurangzeb emphasized that energy prices directly impact the national economy, adding that the government is assessing macroeconomic stability and the broader financial impact of the oil crisis.
The government is also coordinating with all four provincial chief ministers to ensure a unified response to the rising energy costs.
Authorities defended the petrol price increase as a necessary step to prevent fuel shortages, while assuring the public that fuel prices will be reviewed weekly.
Officials added that if global oil prices stabilize, petrol and diesel prices could be reduced quickly to provide relief to consumers.
