Senate Committee Briefed on Crude, Diesel, Petrol, and LPG Stocks as Global Prices Soar
ISLAMABAD: Global petrol and diesel prices have surged sharply amid rising tensions in the Middle East, sparking concerns over fuel supply stability in Pakistan.
The issue was discussed at a Senate Standing Committee on Petroleum meeting chaired by Senator Manzoor Ahmed. Officials briefed lawmakers on the country’s petroleum supply and reserve situation, highlighting that Pakistan imports nearly 70% of its petroleum products from the Middle East.
Secretary Petroleum reported that disruptions in tanker movements and regional instability have slowed shipments, pushing international diesel prices from $88 to $187 per barrel and petrol from $74 to $130 per barrel. Normally, oil reaches Pakistan from Arab nations within four to five days, but current geopolitical tensions have created supply chain uncertainty.
To mitigate the impact, Pakistan is maximizing existing reserves and temporarily allowing the import of petroleum below Euro-5 standards. The ministerial committee formed by the Prime Minister is monitoring the situation daily.
According to the briefing, Pakistan’s current reserves can cover about 11 days of crude oil, 21 days of diesel, 27 days of petrol, 9 days of LPG, and 14 days of JP-1 jet fuel. Officials emphasized that the government is closely tracking international developments to ensure uninterrupted fuel availability in the country.
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