Pakistan Petrol Prices: everything we know so far

Keeps price Rs100 lower; without change, diesel would have been Rs480/litre. Pakistan Petrol Prices has emerged this Friday as one of the stories drawing attention in Pakistan.

Key facts

• Keeps price Rs100 lower; without change, diesel would have been Rs480/litre.
• The International Monetary Fund (IMF) has endorsed a new formula to fix prices of high-speed diesel, which has addressed the issue of windfall gains to oil refineries due to the Middle East war and helped keep diesel prices lower by Rs100 per litre for this week.
• Without any change in the formula, the diesel price would have been Rs480 per litre for the current week, compared with the Rs380.2 per litre announced by Petroleum Minister Ali Pervaiz Malik on Friday.
• Sharif increased the petroleum levy on petrol by Rs26.77 per litre on Friday, which is higher than the Rs80 per litre limit set for petrol and diesel by the IMF.
• The government is now charging Rs107 per litre in petroleum levy on petrol while it has not restored the levy on diesel.

What we know

Going deeper, the International Monetary Fund (IMF) has endorsed a new formula to fix prices of high-speed diesel, which has addressed the issue of windfall gains to oil refineries due to the Middle East war and helped keep diesel prices lower by Rs100 per litre for this week.

On the substance, Without any change in the formula, the diesel price would have been Rs480 per litre for the current week, compared with the Rs380.2 per litre announced by Petroleum Minister Ali Pervaiz Malik on Friday.

Beyond the headlines, Sharif increased the petroleum levy on petrol by Rs26.77 per litre on Friday, which is higher than the Rs80 per litre limit set for petrol and diesel by the IMF.

More precisely, the government is now charging Rs107 per litre in petroleum levy on petrol while it has not restored the levy on diesel.

It is worth noting that Pakistan entered March 2026 with minimal strategic oil reserves, less than three months of import cover.

By the numbers

At this stage, On April 11, the federal cabinet approved a one-time intervention in diesel pricing to absorb the extraordinary increase by setting weekly prices based on the lowest value of HS Platts of the previous week.

On a related note, Based on the weighted average crack of diesel, petrol and furnace oil, the high-speed diesel crack has been capped at $41.89 per barrel, with a floor set at $11.33 per barrel.

Going deeper, US backs $2.4 billion American firm investment offer in Pakistan.

On the substance, Govt raises petrol by Rs6.51, high-speed diesel by Rs19.39 per litre.

The wider context

On a related note, Government officials said the federal cabinet last week approved a new pricing mechanism for setting diesel prices for at least three months.

Going deeper, a virtual meeting was held with the IMF on Friday, hours before the announcement of new prices, and the fund agreed to the changes, which have taken care of consumers' interests without adding burden to the budget, said the sources.

On the substance, Refineries stepped forward to play a proactive role and worked with the Petroleum Division to jointly work out solutions to everyday challenges, said Petroleum Minister Ali Pervaiz Malik while confirming the development.

Beyond the headlines, However, the prime minister's strategy of increasing the petroleum levy to offset a massive shortfall in FBR tax revenues has led to public backlash.

More precisely, Still, it was able to steer the ensuing crisis without a single dry-out incident because of what the petroleum minister has often called "prompt decision making, diplomatic support and strong leadership at the highest level".

The bottom line

• The International Monetary Fund (IMF) has endorsed a new formula to fix prices of high-speed diesel, which has addressed the issue of windfall gains to oil refineries due to the Middle East war and helped keep diesel prices lower by Rs100 per litre for this week.
• The government is now charging Rs107 per litre in petroleum levy on petrol while it has not restored the levy on diesel.
• A virtual meeting was held with the IMF on Friday, hours before the announcement of new prices, and the fund agreed to the changes, which have taken care of consumers' interests without adding burden to the budget, said the sources.
• Searches spiking right now: Govt hikes petrol price by Rs6, diesel by Rs19, Comment: Petrol prices up 56pc in Pakistan, unchanged in India, Petrol, diesel prices increased again in Pakistan, Petrol Prices increase across Pakistan.