ISLAMABAD – (April 30) The Federal Government has announced a significant hike in petroleum prices effective May 1, 2026. According to a statement from the Petroleum Division, the ex-depot price of petrol will increase by Rs 6.51 per litre, while High-Speed Diesel (HSD) will see a sharp rise of Rs 19.39 per litre.
New Prices at the Pump
Effective immediately, consumers will face the following rates:
| Product | New Price (per Litre) | Previous Price | Change |
| Petrol | Rs 399.86 | Rs 393.35 | + Rs 6.51 |
| HSD | Rs 399.58 | Rs 380.19 | + Rs 19.39 |
| Kerosene Oil | Rs 360.76 | Rs 365.21 | – Rs 4.45 |
While petrol and diesel prices climbed, kerosene oil provided a small relief with a reduction of Rs 4.45 per litre.
Petroleum Levy Adjustments
To meet the annual budget target of Rs 1.4 trillion, the government has recalibrated the Petroleum Levy (PL):
- HSD: The levy has been set at Rs 28.69 per litre (previously zero).
- Petrol: The levy was reduced by Rs 3.88 per litre.
- Kerosene & LDO: The levy stands at Rs 20.36 and Rs 15.84 per litre, respectively.
- HOBC: The rate remains unchanged at Rs 305.37 per litre.
Supply Costs and Market Trends
The price adjustments come amid rising Free-on-Board (FOB) supply costs. HSD supply costs rose by $5.56 per bbl (to $159.49), while petrol supply costs increased by $4.88 per bbl (to $137.66). Despite these local increases, global benchmarks showed recent volatility; Brent crude dipped to $115.98 per bbl after hitting a multi-year high of $126.41 earlier in the period.
Local refinery estimates place the ex-refinery price of petrol at Rs 6.79 per litre and HSD at Rs 9.69 per litre, with premiums remaining stable at $19.50 and $52.89 per bbl, respectively.
