KARACHI: Pakistan’s refineries continue to operate at optimal levels and the overall supply of petrol, diesel and crude oil remains stable, the finance ministry said on Monday, days after Islamabad sharply raised consumer prices for diesel and petrol.
Pakistan last week raised fuel prices to historic highs, with petrol reaching Rs458.41 ($1.65) per liter and diesel Rs520.35 ($1.87), before Sharif announced a Rs80 ($0.29) cut in the petrol levy to ease the burden on consumers.
The development followed widespread disruptions in energy and cargo supplies through the Strait of Hormuz waterway due to the ongoing United States-Israel war on Iran and Tehran’s counterattacks in the region.
Pakistan cabinet’s committee to monitor petrol prices met on Monday to review the petroleum supply situation and market conditions following the recent price adjustment, focusing on ensuring supply continuity.
“Members were informed that the overall supply position remains stable, with diesel stocks providing approximately 25 days of cover, petrol availability sufficient to meet current demand, and crude oil stocks at around 12 days of cover, supported by incoming cargoes and scheduled imports,” the finance ministry said.
