Prime Minister Shehbaz Sharif during the late hours of Friday announced that the federal government has decided to keep prices of both Motor Spirit (MS) petrol and high-speed diesel (HSD) unchanged for one more week.
Petrol will now still be available for Rs. 321.17 per litre while diesel for Rs. 335.86 per litre, effective immediately (Saturday), March 21, 2026. The PM added that the federal government will bear the Rs. 45 billion cost of not changing fuel prices for one more week.
The Petroleum Division had recommended increasing petrol prices by Rs. 50 per litre and diesel prices by Rs. 74 per litre. However, Prime Minister Shehbaz Sharif rejected the proposed hike, and the government will now bear a subsidy of Rs. 45 billion to keep fuel prices unchanged.
A fortnight ago, the federal government had jacked up petrol and diesel rates by Rs. 55 per litre, each, in response to the trade crisis caused by the Gulf War.
In the past four fuel price reviews, the federal government has increased fuel rates in two out of four sessions.
