ISLAMABAD (March 21) – Pakistan will absorb a significant hike in global oil costs to maintain domestic fuel stability weekly despite global price surges of Rs 176.41 per litre for High-Speed Diesel (HSD) and Rs 77.98 per litre for petrol.
According to a statement of Petroleum Division, the rate of HSD will remain at Rs 335.86 per litre and petrol at Rs 321.17 per litre with effect from March 21.
“Despite the significant rise in international petroleum prices, the government has decided to keep the prices of HSD and MS unchanged. The government will compensate OMCs by covering the price differential of Rs 176.41 per litre for HSD and Rs 77.98 per litre for MS”, the statement reads out.
The government had already absorbed earlier price pressures by agreeing to pay Rs23 billion in price differential claims to oil marketing companies, supported by emergency fund funded through austerity measures.
Global oil prices are experiencing high volatility and upward pressure in March 2026, with Brent crude frequently exceeding $100–$116 per barrel, driven by severe supply concerns due to heightened conflict in the Middle East. While volatility is high, prices are elevated on fears of energy infrastructure disruption in major oil-producing regions.
on Friday Prime Minister said that his federal government will bear the additional burden of Rs45 billion once again Federal govt had spent Rs69bn from its savings and development budgets over the past two weeks to prevent petrol prices from rising by Rs127 per litre and diesel by Rs252 per litre, he added.
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