ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced that petroleum prices would remain unchanged for the current review period, stressing that the decision was aimed at easing the fin­ancial burden on the public.

The premier “has decided not to increase the prices of petroleum products this time, honouring the promise made to the public despite a further rise in oil prices in the international market”, said a statement issued by the Prime Minister’s Office (PMO).

“The global economy is currently under pressure due to regional tensions, which is likely to have a profound impact on Pakistan’s economy,” the statement quoted the prime minister as saying.

He added that timely policymaking, austerity measures and financial discipline were helping the government deal with the situation effectively.

Premier says provinces helping Centre implement austerity measures

The premier further said that provincial governments were also supporting the Centre in implementing austerity measures.

He said that, due to the efforts of the diplomatic and economic teams, adequate quantities of crude oil were 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 said, expressing hope that the global situation would improve and fuel prices would stabilise.

The premier’s remark came a week after the government raised petrol and diesel prices by a record Rs55 per litre amid the war in Iran, which disrupted global oil supplies. The government had also announced a series of austerity measures to cope with the situation.

The next fuel price review had been scheduled for Sunday (March 15), though ministers indicated on Thursday that it could be brought forward.

Official sources had earlier told Dawn that PM Shehbaz, during a recent consultative session attended by federal and provincial representatives, said he and the military leadership had decided after the first Rs55-per-litre increase that there would be no further price hike in the near future, regardless of developments in the Middle East.

Published in Dawn, March 14th, 2026