Pakistan has 27 days of petrol and 21 days of diesel reserves, petroleum secretary tells Senate panel

ISLAMABAD: Pakistan currently holds enough petrol reserves to last 27 days and diesel reserves for 21 days, Petroleum Secretary Hamed Yaqoob Sheikh informed the Senate Standing Committee on Petroleum on Monday.

During the committee meeting chaired by Senator Manzoor Ahmed, Secretary Sheikh provided a detailed update on the country’s fuel stocks following the government’s recent decision to increase the prices of petrol and high-speed diesel by Rs55 per litre. This price hike was implemented in response to ongoing tensions in the Middle East that have disrupted supply routes.

Sheikh stated that, in addition to petrol and diesel, the nation has jet fuel (JP1) reserves sufficient for 14 days, crude oil reserves for 11 days, and liquefied natural gas (LNG) reserves for nine days. He also noted that the government has now permitted the import of oil with quality below the Euro 5 standard.

According to the petroleum secretary, approximately 70 per cent of Pakistan’s petrol imports originate from the Middle East. He explained that the recent suspension of ship movements in the region has impacted supply chains, resulting in increased fuel prices. Sheikh highlighted that the price of high-speed diesel has surged from $88 to $187 per barrel, while petrol prices have risen from $74 to $130 per barrel.

The committee meeting was convened to assess the impact of these developments on Pakistan’s energy security and to discuss the government’s response to the evolving situation in international oil markets.