ISLAMLABAD: Pakistan’s Prime Minister Shehbaz Sharif said Pakistan’s weekly oil bill has risen from around $300 million before the war to $800 million amid the Middle East conflict. He said fuel consumption had declined and the situation was being monitored regularly.
Addressing a meeting of the federal cabinet, the prime minister praised Petroleum Minister Ali Pervaiz Malik for his role in dealing with the fuel crisis linked to the Iran war. He said the situation now appeared satisfactory.
“International oil prices have surged again. This Friday, we will announce new domestic prices based on the international market situation. This is a very challenging situation,” said Shehbaz.
On that note, the prime minister remarked that fuel prices in the global markets had risen sharply, noting that “our weekly pre-war oil bill was around $300m, and today it is up to $800m”.
He further shared that the country’s fuel consumption “had lessened compared to previous weeks”, stressing that the situation was being monitored regularly.
“Consultations are also being held with provinces to extend fuel subsidies,” the premier told the cabinet.
The remarks came as the government continues to assess the fallout of rising global energy prices on the domestic economy. The prime minister’s comments linked the increase in Pakistan’s oil bill directly to the broader regional conflict and the resulting jump in international fuel prices.
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