ISLAMABAD: Pakistan’s Petroleum Minister Ali Pervaiz Malik said this week that three oil shipments are expected to reach Pakistan on Monday, state media reported as Islamabad grapples with a potential fuel shortage and the impact of surging oil prices worldwide amid tensions in the Gulf region.
Pakistan last week increased petrol and diesel prices by Rs55 ($0.20) per liter each as the conflict in the Middle East involving Iran, Israel and the US pushed global oil prices higher and disrupted key energy supply routes, including the Strait of Hormuz where roughly 20 percent of the world’s oil and gas supply passes through.
Pakistan’s government has deliberated measures to conserve fuel as the Middle East conflict intensifies with no signs of either side letting up. Islamabad has also sought Saudi Arabia’s help in securing oil supplies through the Red Sea port route, as the Strait of Hormuz remains closed for trade.
A delegation of the federal government, led by Finance Minister Muhammad Aurangzeb and comprising Malik, met Sindh Chief Minister Murad Ali Shah in Karachi on Sunday to discuss Islamabad’s plans to conserve energy and deal with a potential fuel crisis in case the Middle East conflict continues.
