Pakistan’s petrol market could face a dramatic price shock if fuel supplies become scarce, Federal Petroleum Minister Ali Pervaiz Malik has warned.
Speaking to the media in Lahore, Malik said there is currently no petrol shortage in the country. However, he cautioned that prices could reach Rs1,000 per litre if a shortage develops.
The warning comes as global oil prices continue to put pressure on Pakistan’s fuel market. Meanwhile, the government says it is working to maintain supplies and limit the impact on consumers.
Global Oil Prices Put Pressure on Pakistan
Ali Pervaiz Malik said oil prices have increased significantly in Europe and the United States. He also stated that international oil prices have risen by 80 percent.
However, Pakistan has passed on only around 50 percent of that increase to domestic consumers, according to the minister.
He said Prime Minister Shehbaz Sharif had acted responsibly by limiting the impact of higher international oil prices. Therefore, the government has attempted to protect consumers from the full effect of rising global costs.
Despite the pressure on prices, Malik stressed that Pakistan currently has no petrol shortage. His warning instead focused on the possible consequences if fuel supplies become scarce.
Petrol Shortage Could Trigger Major Price Increase
The minister’s Rs1,000-per-litre warning is conditional on a shortage developing in the country. Therefore, it does not represent a new petrol price currently being charged to consumers.
Malik said the government was monitoring the fuel situation while working to maintain supplies. The government has also taken measures aimed at supporting consumers amid higher petroleum costs.
Meanwhile, the minister said fuel-related tokens worth Rs180 million were issued in a single day on Friday. The figure highlights the scale of recent fuel-related government measures.
Government Plans Winter Gas Supply
Ali Pervaiz Malik also addressed concerns about gas availability during the upcoming winter. He said the government would ensure that consumers do not face a gas shortage.
According to the minister, the government could spend $100 million on gas imports if necessary. He compared this potential spending with the $3 million required under a lower-import scenario.
The government, therefore, is preparing to spend more if needed to maintain adequate gas supplies during winter.
Oil Exploration Efforts Underway
The petroleum minister also shared an update on domestic oil exploration. He said work has started on oil wells across the country.
According to Malik, the government expects oil discoveries by October. The expected discoveries could become relevant to Pakistan’s broader efforts to strengthen domestic energy supplies.
However, the minister did not provide further details about the wells or potential discoveries in the statement.
Minister Responds to Political Criticism
Responding to criticism over the fuel situation, Malik urged political parties and others to avoid politicizing people’s difficulties.
He said the government was focused on managing the challenges surrounding fuel and energy supplies. At the same time, he stressed the need to maintain fuel availability for consumers.
Malik also said that no one would be allowed to march on Islamabad. His remarks came as political tensions continued alongside concerns over fuel prices and energy supplies.
For now, the government maintains that Pakistan does not face a petrol shortage. However, the petroleum minister’s warning has drawn attention to how sharply prices could rise if fuel supplies become constrained.
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