Pakistan may hold fuel prices despite global oil surge

Pakistan’s government is weighing the option of keeping petrol and high-speed diesel prices unchanged until March 31, even as global crude markets remain under pressure from regional instability.

According to the report, Petroleum Minister Ali Pervaiz Malik discussed the situation with industry representatives and asked oil companies to avoid hoarding while ensuring uninterrupted market supplies. Officials are also trying to secure extra crude and refined cargoes to protect domestic availability.

Geo News said the government is examining possible imports from Russia as part of contingency planning. Industry estimates cited in the article suggest that recent global price movements could otherwise translate into a notable rise in local fuel costs.

The report added that the state has already absorbed part of the earlier shock through financial support to oil marketing companies, while authorities are also considering conservation measures during the Eid holidays.