Pakistan may hike fuel prices by up to PKR 7 per liter

Petroleum product prices in Pakistan are expected to rise by as much as PKR 7 per liter, according to officials in the country’s oil marketing sector. Under the proposed adjustment, petrol could increase by PKR 4.60 per liter and high-speed diesel by PKR 7.50 per liter. Kerosene is likely to go up by PKR 4 per liter, while light diesel could see a rise of PKR 6.55 per liter. Preliminary calculations for the revision have been prepared, with the Oil and Gas Regulatory Authority (OGRA) expected to submit its recommendations to the government on Saturday. Following approval from Prime Minister Shehbaz Sharif, the Petroleum Division will formally announce the new prices. If implemented as proposed, the new rates would take effect for 13 days from Feb. 16, with petrol reaching PKR 257.77 per liter and high-speed diesel PKR 275.38 per liter. Kerosene would be priced at PKR 179.80 per liter, and light diesel at PKR 160.96 per liter. Meanwhile, collection of the petroleum development levy for the six months ending December 31, 2025, reached PKR 823 billion, up from PKR 372 billion in the first quarter. Compared with the same period in the previous fiscal year, when collection stood at PKR 549 billion, this represents an increase of nearly 50%. Analysts estimate that net levy collections could surpass PKR 1,450 billion in FY 2026, up from PKR 1,220 billion in FY 2025.