The Committee to Monitor Petrol Prices was informed on Thursday that the country has adequate stocks of petroleum products to meet demand for April and beyond, amid concerns over global supply disruptions.
Earlier this month, the government sharply increased petrol and diesel prices by Rs55 per litre, or 20 per cent, 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.
In response, Prime Minister Shehbaz Sharif constituted a monitoring committee to oversee petroleum prices and supply after global oil routes were affected by the closure of the Strait of Hormuz during the Middle East conflict A meeting of the committee was chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar today to review the country’s petroleum stocks and assess preparedness.