ISLAMABAD: Pakistan is expecting three petrol cargoes to arrive by Monday as authorities move to secure energy supplies and introduce fuel conservation measures amid rising tensions in the Middle East and surging global oil prices.
Petroleum Minister Ali Pervaiz Malik shared the update during a high level meeting held in Karachi to review the evolving regional situation and its potential impact on Pakistan’s energy security and economic stability. The meeting was attended by Sindh Chief Minister Murad Ali Shah, Finance Minister Muhammad Aurangzeb and senior federal and provincial officials.
Participants were given a detailed briefing on global oil market trends and the country’s current fuel reserves. Officials warned that if the conflict in the Middle East escalates further, international crude oil prices could surge to around 120 dollars per barrel, significantly increasing Pakistan’s energy import costs.
The federal government has already increased petrol and diesel prices by Rs55 per litre following the spike in global oil prices triggered by the US Israel conflict with Iran. Officials said the increase was necessary to adjust domestic fuel prices in line with international market movements and protect the national energy supply chain.
Finance Minister Muhammad Aurangzeb told the meeting that the government was closely monitoring developments in global energy markets and preparing contingency plans to manage the financial impact. He cautioned that if oil prices continue to climb, Pakistan’s monthly oil import bill could rise by nearly 600 million dollars, placing additional pressure on the external account.
Petroleum Minister Malik emphasised that fuel conservation would be essential to ensure existing reserves last longer and remain available for critical sectors. Officials also warned that Qatar’s declaration of force majeure could affect LNG supplies, prompting Pakistan to intensify diplomatic engagement with Saudi Arabia, Oman and the United Arab Emirates to secure alternative fuel routes and maintain stable energy supplies.
