No further hike in petrol, diesel prices amid global oil surge: PM

• Premier Shehbaz reaffirms commitment to relieve the public and ease burden on the common man

• Stresses govt holds fuel prices steady to shield public from international market’s shocks

• Thanks to timely policymaking, austerity measures, and financial discipline, govt taking effective steps to manage situation: PM

• Says adequate crude oil supplies secured through diplomatic and economic measures, lauding provincial govts for supporting Centre’s austerity measures

 ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced that the government has decided not to increase petroleum prices this time, despite rising international oil rates, reaffirming its commitment to relieve the public and ease the burden on the common man, state media reported.

“The decision has been made to ease the financial burden on the general public, and as per my promise, the government will provide relief to the people wherever possible,” said the Prime Minister’s Office (PMO) in an official statement quoting the premier.

وزیرِ اعظم محمد شہباز شریف کا عالمی منڈی میں تیل کی مزید قیمتیں بڑھنے کے باوجود عوام سے کئے گئے وعدے کے مطابق اس مرتبہ پیٹرولیم مصنوعات کی قیمتیں نہ بڑھانے کا فیصلہ

عام آدمی پر بوجھ کم کرنے کے لیے، قیمتوں میں اضافہ نہیں کیا جا رہا۔

اپنے وعدے کے مطابق جس قدر ہو سکا، ان مشکل… pic.twitter.com/MT27Gfapdb

— PTV News (@PTVNewsOfficial) March 13, 2026

The government had recently raised petrol and diesel prices by Rs55 per litre, citing surging global oil costs linked to escalating tensions in the Middle East. Under the revised rates, petrol now costs Rs321.17 per litre, while diesel has risen from Rs275.70 to Rs335.86 per litre.

The prime minister highlighted that the global economy is under pressure due to regional conflicts, which could have a profound impact on Pakistan. “But the government has decided not to increase petroleum prices further, to reduce the burden on the common man,” he added.

وزیرِ اعظم محمد شہباز شریف کا عالمی منڈی میں تیل کی مزید قیمتیں بڑھنے کے باوجود عوام سے کیے گئے وعدے کے مطابق اس مرتبہ پیٹرولیم مصنوعات کی قیمتیں نہ بڑھانے کا فیصلہ۔

"بروقت پالیسی سازی، حکومت کی جانب سے بچت کے اقدامات اور مالی نظم و ضبط کی بدولت اس صورتحال سے احسن طور پر انسانی… pic.twitter.com/C1YlF7b2zx

— Government of Pakistan (@GovtofPakistan) March 13, 2026

He said that thanks to timely policymaking, austerity measures, and financial discipline, the government was taking effective steps to manage the situation. He also praised provincial governments for supporting the Centre’s austerity measures.

The premier emphasized that, due to the efforts of Pakistan’s diplomatic and economic teams, adequate crude oil supplies are available to meet the country’s needs. “The federal and provincial governments are working together to ensure that no one is charged more than the price set by the government,” he added, praying that the global situation stabilizes and fuel prices ease.

This announcement comes a week after the Rs55 per litre increase, which followed the war in Iran that disrupted global oil supply. In response, the government had also introduced a series of austerity measures to cope with the situation.

The next petrol price review, originally scheduled for Sunday, March 15, could be brought forward, but officials indicated on Thursday that no further increase is expected.

A day earlier, the Ministry of Finance clarified reports suggesting another hike, stating that Finance Minister Muhammad Aurangzeb had made no statement regarding further increases, and that circulating media reports were inaccurate.

In an official statement on Thursday, the ministry said Minister Aurangzeb briefed the Senate Standing Committee on Finance but did not comment on any new hikes in petroleum prices. “Reports circulating on television channels suggesting otherwise are inaccurate,” the statement said.

While briefing the committee, the minister discussed rising trends in global oil prices but did not announce any decision to increase petrol rates domestically, the ministry added. The clarification comes amid widespread media speculation over potential adjustments, as Pakistan closely monitors global market fluctuations.

Meanwhile, official sources revealed that PM Shehbaz Sharif, in a consultative session attended by federal and provincial representatives and military leadership, including Chief of Defence Forces Asim Munir, decided that no further fuel price hikes would be made in the near future, regardless of developments in the Middle East.

The premier assured that block allocations for emergencies would be used to absorb any additional costs, emphasizing that no other emergency could be more severe than the current crisis caused by fuel supply disruptions following the US-Israel attack on Iran.