Daily Petrol Price Adjustments Loom in Pakistan as Global Oil Crisis Deepens?

The federal government is actively considering a radical shift to daily adjustments in petroleum product prices, moving away from the recently introduced weekly review system, amid unrelenting volatility in global crude oil markets triggered by escalating Middle East tensions.

Current petrol price remains at Rs321.17 per litre (effective since the massive Rs55 hike on March 7, 2026), with high-speed diesel at Rs335.86 per litre. However, sources close to the Petroleum Division and OGRA indicate that daily price determination, similar to models used in some deregulated markets, is now under serious discussion at the highest levels to better reflect real-time Platts international rates and prevent the buildup of large fortnightly or even weekly shocks.

Prime Minister Shehbaz Sharif chaired an emergency meeting today where the daily pricing proposal was tabled alongside ongoing fuel conservation measures, work-from-home directives, virtual official meetings, reduced non-essential travel, and increased public awareness campaigns. The Prime Minister has directed the formation of a high-level task force to finalize recommendations within the next 48–72 hours, including consultations with provincial governments and major oil marketing companies.

The government continues to assure the public that:
– Strategic reserves are adequate for the immediate term.
– Additional import cargoes are en route.
– Any future decline in international prices will trigger immediate and full relief at the pump.

Despite these reassurances, transport unions, traders, and ordinary citizens in cities like Lahore are bracing for further pain, with many predicting that daily adjustments, if implemented, could become the new normal until global energy markets stabilize.

The next price notification is still expected on a weekly basis, likely this coming weekend, but insiders suggest the shift to daily could be announced as early as next week if the crisis shows no signs of easing.