ISLAMABAD – Pakistan faced the threat of severe fuel shortages last week, but a new lifeline on the Red Sea route is expected to improve continued fuel supplies. Iran-US War. Ships carrying tens of thousands of tonnes of crude oil and gasoline are now heading to Karachi from Saudi Arabia and the UAE, providing a vital route to fill the country’s tanks and keep the wheels of the economy turning.
For a country of 250 million people that imports nearly 60% of its gasoline, there is no chance of survival without a continuous supply of oil. When the Strait of Hormuz was blocked due to the Middle East conflict, Pakistan began importing crude oil through the Red Sea.
A Pakistan Shipping Corporation (PNSC) vessel has arrived at Yanbu Port in Saudi Arabia and is scheduled to sail to Karachi on Thursday carrying 73,000 tonnes of crude oil. Another PNSC ship, ShalamarIt has successfully loaded oil at Fujairah Port and is currently en route to Karachi.
The collapse of the Strait of Hormuz left several ships stranded, including two PNSC vessels near Karachi and at a charter port, underscoring the massive impact on global energy flows. These severe waterway blockages have disrupted about a fifth of global oil and liquefied natural gas exports, sending international prices to highs not seen since 2022.
The domestic impact has been severe, with the federal government hiking petrol and diesel prices by Rs55 per litre. Petrol price has now been increased from Rs266.17 to Rs321.17 per liter, while diesel price has been increased from Rs280.86 to Rs335.86 per liter. Meanwhile, four ships carrying gasoline arrived at Port Qasim on Tuesday, with 37,000 tons already unloaded and another 50,000 tons in the process of being transferred.
Amid this crisis, the Minister of Petroleum met with the Saudi Ambassador again this morning, and additional flights carrying oil from Saudi Arabia are heading to Pakistan. Officials are confident there will be no domestic fuel shortage as the Red Sea route is a vital lifeline to sustaining Pakistan’s energy needs amid turmoil in the Middle East.
Amid the Middle East conflict, Pakistan has said it will support Saudi Arabia whenever needed.
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