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Pakistan Has Petrol for 27 Days, Diesel for 21 Days Amid Middle East Supply Crisis
Pakistan has petrol reserves for 27 days and diesel for 21 days, Petroleum Secretary Hamed Yaqoob Sheikh told a Senate panel amid rising fuel prices and supply disruptions linked to the Middle East conflict.
ND
by News Desk
2026-03-16
Pakistan Has Petrol for 27 Days, Diesel for 21 Days Amid Middle East Supply Crisis

Pakistan currently has petrol reserves sufficient for 27 days and diesel reserves for 21 days, Hamed Yaqoob Sheikh, the country’s petroleum secretary, informed lawmakers during a meeting of the Senate Standing Committee on Petroleum on Monday.

The committee session, chaired by Senator Manzoor Ahmed, took place after the government announced a Rs55 per litre increase in the prices of both petrol and high-speed diesel amid growing concerns over fuel supply disruptions triggered by the ongoing Middle East conflict.

During the briefing, Sheikh told the committee that Pakistan also had jet fuel (JP1) reserves for 14 days, crude oil reserves for 11 days, and liquefied natural gas (LNG) reserves for nine days.

He further revealed that the government had allowed the import of petroleum products below the Euro-5 standard to maintain fuel supplies during the crisis.

According to the petroleum secretary, about 70 per cent of Pakistan’s petrol imports originate from the Middle East, and disruptions in shipping movements have significantly impacted supply chains and fuel prices.

“Due to these disruptions, the price of high-speed diesel increased from $88 to $187, while petrol rose from $74 to $130,” Sheikh told lawmakers.

He added that a ministerial committee formed by Prime Minister Shehbaz Sharif was reviewing the situation of petroleum products on a daily basis to monitor supply and price fluctuations.

During the meeting, Senator Manzoor Ahmed raised concerns that the entire benefit of the price increase appeared to have been passed on to oil marketing companies. In response, Sheikh maintained that the decision to increase prices was taken to discourage hoarding and did not benefit oil marketing companies.

Officials from the Oil and Gas Regulatory Authority (Ogra) informed the committee that diesel prices had increased by 100 percent, while petrol prices had risen by 70 percent since March 7.

Sheikh also told lawmakers that the government was working on a relief package for motorcycle and rickshaw users, aimed at reducing the financial burden on lower-income groups that rely heavily on fuel for daily commuting.

The petroleum secretary noted that regional supply disruptions were affecting other countries as well. “Around 60 percent of India’s petrol imports have been affected, and countries are trying to ensure safe fuel supply routes,” he said.

He added that two Pakistani oil tankers were currently stuck in the strategic Strait of Hormuz, a key global shipping route for oil.

Officials further briefed the committee on the country’s liquefied natural gas supply situation, stating that Pakistan had two agreements with Qatar for LNG imports. However, LNG supplies from the Gulf state had been completely suspended since March 2.

According to Ogra officials, eight LNG cargoes were scheduled for March, but only two shipments arrived, while six cargoes are expected in April.

The supply disruption has also impacted domestic industries. Officials said that Sui Southern Gas Company had reduced gas supply to a fertiliser plant by 50 percent, while gas supply to the power sector had been cut from 300 million cubic feet per day (MMCFD) to 130 MMCFD.

Authorities warned that LNG may not be available in the country after April 14, which could lead to further pressure on the energy sector. The power sector’s gas requirements in April may have to be met through alternative sources.

Officials noted that LNG could potentially be purchased from the State Oil Company of the Azerbaijan Republic (Socar), but such spot purchases would come at a higher cost.

“Gas from Qatar costs about $9 per unit, while spot LNG purchases would cost around $24 per unit, which will ultimately make electricity more expensive,” officials said.

Meanwhile, the government on Sunday also raised the price of kerosene oil by Rs40 per litre and approved a Rs23 billion price differential subsidy for payments to oil marketing companies to maintain current petrol and diesel prices for the week.

Last week, Prime Minister Shehbaz Sharif had announced that petroleum prices would remain unchanged during the latest review period, stating that the move was intended to ease the financial burden on the public amid rising global energy prices.
Tagged:

PakistanEconomy

PetrolPrices

PakistanEnergy

FuelCrisis
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