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

The Committee to Monitor Petrol Prices was informed on Tuesday that the country has largely secured petrol cargoes for March and April, with additional shipments planned to further strengthen 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 US-Israel and Iran war, which pushed crude oil prices to a two-year high.

Following the increase, Prime Minister Shehbaz Sharif constituted a monitoring committee to oversee the prices and movement 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 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 developments in global oil and gas markets amid evolving geopolitical conditions.

The meeting’s participants were briefed on inbound logistics and maritime operations supporting fuel supplies, adding that cargo inflows were continuing as scheduled, “with petrol 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 petroleum supply outlook, reviewing stock availability of crude oil and refined petroleum products across the energy value chain.

Members were informed that overall inventories remained at comfortable levels, supported by secured 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.

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

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 to continue vigilant monitoring of international developments, stock levels, and supply chain dynamics to ensure timely and coordinated policy responses,” he directed.

The finance minister reiterated that ensuring the 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 safeguard national energy security.

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The committee also emphasised operational readiness across the domestic energy chain, underscoring that refineries must continue operating at optimal throughput levels to sustain supply stability and reduce systemic vulnerabilities.

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

Members were further briefed on ongoing government-to-government engagements 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, enhance storage and transhipment options, and ensure flexibility in procurement and financing mechanisms.