Finance Ministry says Pakistan has ‘largely secured’ petrol cargoes for March and April

The committee to monitor gasoline prices was informed on Tuesday that the country has largely secured gasoline cargoes for March and April, with additional shipments planned to further bolster supply buffers.

Earlier this month, the government sharply increased diesel and petrol prices by Rs55 per litre, or 20%, citing disruptions in global supply chains caused by the ongoing war between the US and Israel, which pushed crude oil prices to a two-year high.

Following the surge, Prime Minister Shehbaz Sharif set up a monitoring committee to monitor the prices and movement of oil products after global oil supply lines were disrupted due to the closure of the Strait of Hormuz amid the Middle East conflict.

According to a statement from the finance ministry, a meeting of the committee was held under the chairmanship of finance minister Muhammad Aurangzeb to review the energy supply situation and assess the development of the global oil and gas markets amid changing geopolitical conditions.

Meeting participants were briefed on inbound logistics and maritime operations supporting fuel supplies, adding that cargo inflows continued as planned, “with gasoline cargoes for March and April largely secured and additional shipments planned to further strengthen supply buffers”.

The committee undertook a forward-looking assessment of the national oil supply outlook, reviewing the inventory availability of crude oil and refined petroleum products across the energy value chain.

Members were informed that total stocks remained at comfortable levels, supported by assured import arrangements and ongoing production. Supply lines from import terminals to refineries, storage installations and retail outlets were reported to be operating in a stable and orderly manner, ensuring continuity of supply across the country.

Read: Government imposes Rs200 tax on high octane fuel

Refineries were reported to be operating at normal production levels, with efforts to maintain optimal throughput and ensure efficient processing of incoming crude oil.

Addressing the meeting, Aurangzeb said proactive planning, diversified procurement strategies and close coordination among stakeholders had enabled Pakistan to maintain a stable domestic supply position despite global volatility.

“All relevant authorities must continue vigilant monitoring of international developments, inventory levels and supply chain dynamics to ensure timely and coordinated policy responses,” he instructed.

The finance minister reiterated that ensuring uninterrupted availability of petroleum products remained the government’s foremost priority, adding that sustained coordination and prudent planning would guide efforts to maintain market stability and ensure national energy security.

Also read: Government urges public to adopt further savings measures, co-operate to save energy amid Middle East fuel crisis

The committee also emphasized operational preparedness across the domestic energy chain, stressing that refineries must continue to operate at optimal throughput levels to maintain supply stability and reduce systemic vulnerabilities.

It also reviewed international energy market trends and geopolitical developments affecting global supply dynamics.

Members were further briefed on ongoing government-to-government engagements aimed at strengthening supply resilience and mitigating risks.

Diversified procurement strategies and logistical arrangements with key partner countries were discussed to secure crude and refined products, improve storage and transshipment options, and ensure flexibility in procurement and financing mechanisms.