Global Oil Prices Rise 90% as Pakistan Monitors Fuel Supplies, Minister Says

LAHORE: Federal Petroleum Minister Ali Pervaiz Malik said the government is closely monitoring global oil prices and fuel supplies amid the tense international situation.

Speaking to the media in Lahore, the minister said the changing global situation was affecting oil prices and supplies. He said the government was taking steps to ensure the continued availability of petroleum products across the country.

Ali Pervaiz Malik said fuel shortages had also been reported in France, but ensuring a steady supply of fuel to the public remained the government’s responsibility. He added that necessary measures would be taken to keep fuel prices affordable.

The minister said energy-related decisions were being made while keeping the national interest and the country’s requirements in mind. He added that authorities were closely watching developments in international oil markets.

Federal Petroleum Minister said global oil costs had amplified by around 90 percent, while domestic petroleum prices had increased by about 50 percent.

The minister accredited the troubles faced by consumers and said the government was aware of the financial burden caused by rising fuel prices.