Current Situation
Pakistan relies heavily on imported fuel, and changes in global oil prices rapidly affect local petrol prices. As of March 1, 2026, the petrol price in Pakistan has increased by Rs 8 per litre, now standing at Rs 266.17.
Recent Developments
This price adjustment comes amid rising costs associated with oil shipments. Insurance costs have surged from around $30,000 to $400,000 per ship, while freight costs have escalated sharply from $900,000 to over $4 million per ship.
In response to these challenges, the government is considering implementing mandatory work-from-home policies to conserve fuel. Additionally, the Oil Marketing Association of Pakistan has raised concerns regarding local refineries cutting agreed supplies, which could further complicate the supply chain.
The government has also launched import tenders for petrol and diesel via alternative routes outside the Strait of Hormuz, aiming to stabilize supply amidst fluctuating global prices. Observers are closely monitoring these developments, as they could significantly impact fuel availability and pricing in the near future.