Fuel supply remains stable despite global market volatility

ISLAMABAD (Dunya News) – Despite fluctuations in the global oil market, fuel supply across Pakistan has been declared stable, officials said following a high-level meeting chaired by Finance Minister Muhammad Aurangzeb.

The meeting of the petroleum pricing and supply monitoring committee reviewed stock levels and supply conditions, noting that diesel reserves are sufficient for 24 days, while petrol stocks remain adequate.

Officials informed the meeting that one crude oil shipment has already arrived in Karachi, with another expected within hours. Arrangements for further oil imports for March and April are also underway.

The briefing highlighted a continued rise in global oil prices and premiums, increasing import costs and putting pressure on letters of credit (LCs). Authorities have directed the State Bank of Pakistan (SBP) and commercial banks to facilitate import financing.

In a separate statement, the Finance Ministry said strict monitoring would be enforced to prevent any artificial shortage of fuel. Provincial governments have been instructed to take action against hoarding.

The committee also emphasised ensuring uninterrupted fuel supply during the upcoming Eid holidays and the crop harvesting season. Oil marketing companies will remain fully operational, with no immediate risk of shortages.

A decision was taken to monitor fuel stocks through a digital dashboard, while the government is also considering expanding international engagements to diversify energy supply sources.

Speaking at the meeting, Aurangzeb reiterated that the government aims to ensure uninterrupted fuel availability while minimising the burden on consumers, adding that daily monitoring of supply and market conditions will continue.