Govt mulling not hiking prices of petroleum products further despite rise in global market
Published on March 13, 2026
ISLAMABAD: The province has banned the export of all petroleum products and is considering holding back any immediate rise in petroleum prices,
An illustrative image related to: Govt mulling not hiking prices of petroleum products further despite rise in global market, highlighting key aspects of the story. | Image source: Dawn.com
Govt mulling not hiking prices of petroleum products further despite rise in global market
ISLAMABAD: The province has banned the export of all petroleum products and is considering holding back any immediate rise in petroleum prices, despite continued upward political push in the global market.
Instead, it plans to draw on a Rs389 billion ‘urgent condition fund’ to absorb future price shocks.
The ruling comes after the latest estimates, based on existing levy rates and pricing formula, suggest that the price of high-speed diesel (HSD) going up by Rs56 per litre and that of petrol by Rs41. Petrol and HSD are currently sold on the higher side of Rs322 and Rs337 per litre, respectively, at retail.
Likewise, estimates also showed an rise of Rs7 and Rs53 per litre for the prices of kerosene and light diesel oil, respectively.
The next price evaluate is scheduled for Public demonstration 15 (Sunday) but ministers indicate these could be reviewed on Public demonstration 13 (Friday).
Highly placed sources informed Dawn that Premier Shehbaz Sharif recently informed a consultative assembly session — attended by federal and provincial representatives — that he and the legal defence team leadership had jointly decided that after the initial rise , there would be no further price hike, at least in the near future, regardless of the prices in the Middle East.
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