Finance Ministry says Pakistan has ‘largely secured’ oil shipments for March and April

The Gasoline Price Monitoring Committee was informed Tuesday that the country had largely secured its gasoline shipments for March and April, and additional shipments were planned to further bolster supply reserves.

Earlier this month, the government sharply hiked diesel and gasoline prices by Rs 55 per liter, or 20 percent, citing disruptions to global supply chains caused by the ongoing war between the United States, Israel and Iran, which has pushed crude oil prices to their highest level in two years.

Following the increase, Prime Minister Shehbaz Sharif constituted a monitoring committee to oversee prices and movements of petroleum 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 issued by the Ministry of Finance, a meeting of the committee was held under the chairmanship of Finance Minister Muhammad Aurangzeb to review the energy supply situation and assess the developments in the global oil and gas markets in the changing geopolitical context.

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

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

Members were informed that overall stocks remained at comfortable levels, supported by secure import agreements and continued production. Supply lines from import terminals to refineries, storage facilities and retail outlets would operate in a stable and orderly manner, ensuring continuity of supply across the country.

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Refineries would operate at steady production levels, and efforts were underway to maintain optimal throughput and ensure efficient processing of incoming crude.

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

“All relevant authorities must continue to vigilantly monitor international developments, stock levels and supply chain dynamics to ensure rapid and coordinated policy responses,” he ordered.

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

Read also: Government urges public to adopt new austerity measures and cooperate to save energy amid Middle East oil crisis

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

It also examined international energy market trends and geopolitical developments impacting global supply dynamics.

Members were further informed of ongoing engagements between governments aimed at strengthening supply resilience and mitigating risks.

Diversified sourcing 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.