Islamabad, March 8, 2026: Three petroleum shipments are expected to arrive in Pakistan by Monday, Petroleum Minister Ali Pervaiz Malik said during a high-level briefing on Sunday amid concerns over rising global oil prices triggered by the ongoing conflict involving Israel and Iran.
The meeting, attended by Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah, reviewed fuel reserves and discussed contingency plans to ensure uninterrupted supply of petroleum products.
The briefing came a day after Prime Minister Shehbaz Sharif directed the finance and petroleum ministries to coordinate with provincial governments on fuel conservation strategies amid fears of supply disruptions due to the widening Middle East conflict.
During the meeting, Aurangzeb warned that Pakistan’s monthly oil import bill could increase by $600 million due to the ongoing crisis, adding that crude oil prices could climb to $120 per barrel if tensions escalate further.
Officials told the meeting that diplomatic contacts are underway with Saudi Arabia, Oman and the United Arab Emirates to explore alternative fuel supply options. Authorities are also considering alternative shipping routes in case disruption occurs at the Strait of Hormuz, through which a significant portion of Pakistan’s oil imports pass.
Malik also warned that liquefied natural gas supplies could face disruption after Qatar reportedly declared force majeure on LNG shipments.
The petroleum minister stressed the need for fuel-saving measures to ensure that existing reserves last longer. He said the government may also request relief from the International Monetary Fund regarding the petroleum levy.
Federal and provincial authorities agreed to enhance coordination to prevent hoarding and price manipulation at petrol pumps. A joint monitoring dashboard is also being prepared to track fuel reserves nationwide.
Sindh Chief Minister Murad Ali Shah said the proposals discussed in the meeting would be presented to the provincial cabinet, emphasizing that responsible energy use and public cooperation are essential to maintain economic stability.
Separately, Punjab Chief Minister Maryam Nawaz also reviewed petroleum supply, demand and reserves in the province during a meeting with federal officials.
Participants agreed to adopt a conservation policy to maintain a balance between supply and demand, while ensuring continued diesel availability for agricultural activities.
Maryam Nawaz warned that no one would be allowed to sell petroleum products above official prices and said authorities would prevent long queues at petrol pumps. She also called on citizens to demonstrate resilience in dealing with the emerging challenges.
Authorities directed district administrations across Punjab to closely monitor fuel supplies, while enforcement agencies including the Punjab Enforcement and Regulatory Authority (PERA) were tasked with preventing hoarding and profiteering.
On Friday, the government raised petrol and diesel prices by Rs55 per litre, marking the largest increase in recent years. The ex-depot price of high-speed diesel rose to Rs335.86 per litre, while petrol increased to Rs321.17 per litre.
Officials said the increase reflects supply risks linked to the Strait of Hormuz, a critical route for global oil shipments.
Meanwhile, the opposition alliance Tehreek Tahafuz Ayeen-i-Pakistan (TTAP) criticised the move, calling it an “economic burden on the public.”
Speaking at a press conference, TTAP leader Muhammad Zubair questioned why fuel purchased at around $65 per barrel was being sold at rates equivalent to $90, alleging that the government could generate roughly Rs110 billion from the decision.
He warned that the price hike would increase the cost of goods and services across the economy, placing additional pressure on low-income households and motorcyclists.
Zubair also criticised the government for failing to reduce privileges and expenditures of the ruling elite while imposing higher costs on ordinary citizens.
As the Middle East conflict continues to disrupt global energy markets, officials say close coordination between federal and provincial governments will remain critical to managing Pakistan’s fuel supply and economic stability.
