By Admin 
- Middle East tensions push global oil prices, Pakistan tries to mediate.
Pakistan Oil Crisis: Due to the ongoing tension in the Middle East, the situation in many countries has worsened. These days Pakistan is struggling with increasing oil crisis and expensive import bill. Recently, Pakistan’s Energy Minister Ali Malik admitted that the country does not have any strategic petroleum reserves (SPR). He said that Pakistan has only 5 to 7 days of crude oil stock, while the stock of refined fuel available with case marketing companies can last for about 20 to 21 days.
This statement has come at a time when Pakistan Prime Minister Shahbaz Sharif said that due to the Iran war, the country’s oil import bill has increased rapidly. Earlier Pakistan used to import oil worth about $300 million every week, but now it has increased to $800 million per week. That means the oil bill has increased by about 167 percent.
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Why is Pakistan comparing with India?
Referring to India’s energy preparedness, Ali Malik said that Pakistan is not like India, which can immediately release oil from its reserves when needed. According to him, India has strategic oil reserves of 60 to 70 days, which can provide relief in case of supply crisis.
What is India doing differently?
India has taken many major steps in the last few years to strengthen its energy security.
Know the main points of India’s strategy
- Created strategic petroleum reserves.
- Also diversified the sources of oil imports.
- Reduce dependence on the Middle East.
- Also purchased oil from Russia on a large scale.
- Imports from Venezuela resumed in early 2026.
Due to all these steps, despite the tension in the Middle East, the prices of petrol and diesel in India have remained stable.
What is the impact on LPG prices?
The price of 19 kg commercial LPG cylinder was increased in India on April 1. There has not been much change in prices since then. This shows that India has been successful in keeping the situation balanced even amidst the volatility of the global oil market.
Pakistan created special task force
To deal with the growing oil crisis, the Pakistan government has created a special task force. Its job is to monitor oil supply and review fuel prices daily. However, amid rising prices, a slight decrease in fuel consumption has also been recorded in Pakistan, which indicates a decline in demand.
Effect of blockade of Strait of Hormuz
The oil market has been affected all over the world due to tension in the Middle East and the long-term blockade in the Strait of Hormuz. This is one of the most important oil shipping routes in the world. Due to this, oil prices increased further across the world on Thursday. Brent crude prices reached their highest level since 2022. Brent crude futures for June rose $1.91, or 1.62 percent, to $119.94 a barrel by 0057 GMT, while US West Texas Intermediate futures for June rose 63 cents, or 00.59 percent, to $107.51 a barrel.
Why is Pakistan increasing its mediation efforts?
In view of the energy crisis and economic pressure, Pakistan is trying to mediate between America and Iran. Shahbaz Sharif claimed that on April 11, Pakistan had helped in the talks that lasted for about 21 hours between the two countries.