ISLAMABAD: The Ministry of Finance has reassured the public that Pakistan currently has sufficient reserves of petroleum products and there is no immediate threat of a shortage or crisis. This clarification came during a high-level meeting chaired by Finance Minister Muhammad Aurangzeb, where the global oil price trends and escalating regional tensions were reviewed.
Officials attending the meeting were briefed that the supply of petrol, diesel, and other petroleum products across the country remains stable. The committee expressed satisfaction over the current situation and acknowledged that the domestic market is not facing any immediate disruptions.
A major focus of the meeting was the recent escalation following Israeli attacks on Iran and its implications for global oil markets. The geopolitical developments and potential volatility in crude oil prices were assessed in detail, particularly in terms of their possible impact on Pakistan’s economy. Finance Minister Aurangzeb instructed all relevant departments to closely monitor the situation to preempt any potential crisis.
It was decided during the meeting that a special working group will be established to monitor both global and domestic petroleum supply and pricing trends on a daily basis. Additionally, a weekly report outlining the status and strategic recommendations will be submitted to the Prime Minister. The Petroleum Division has been designated to act as the secretariat for this task.
Meanwhile, the federal government has announced a revision in petroleum prices. According to a notification issued by the Ministry of Finance, petrol prices have been increased by Rs. 4.80, bringing the new price to Rs. 258.43 per liter. High-speed diesel has seen a price hike of Rs. 7.95, setting the new price at Rs. 262.59 per liter.
According to government sources, the new prices have been determined based on fluctuations in global crude oil prices, import costs, and other economic factors. The adjustments are part of a routine pricing review aimed at maintaining fiscal balance amid changing international market dynamics.
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