ISLAMABAD – Pakistan faced threat of severe fuel shortages last week, but with new lifeline of Red Sea route, fuel supply is expected to inprove despite ongoing Iran-US war. Ships carrying tens of thousands of tonnes of crude and petrol are now making their way from Saudi Arabia and the UAE to Karachi, offering a crucial pathway to keep the nation’s tanks full and the wheels of the economy turning.
For a country of 250 million, where nearly 60% of petrol is imported, there is no chance of survivial without getting continous oil supply. With the Strait of Hormuz blocked amid the Middle East conflict, Pakistan started importing crude oil through the Red Sea.
Pakistan National Shipping Corporation (PNSC) vessel has reached Yanbu port in Saudi Arabia and will sail to Karachi on Thursday carrying 73,000 tonnes of crude oil. Another PNSC ship, Shalamar, has successfully loaded oil at Fujairah port and is now en route to Karachi.
Strait of Hormuz disruption has left multiple vessels stranded, including two PNSC ships near Karachi and at a charter port, underscoring the massive impact on global energy flows. This critical waterway blockage has halted roughly one-fifth of the world’s oil and liquefied natural gas exports, pushing international prices to heights not seen since 2022.
The domestic impact has been severe, prompting the federal government to increase petrol and diesel prices by Rs55 per litre. Petrol now costs Rs321.17 per litre, up from Rs266.17, while diesel has risen to Rs335.86 per litre from Rs280.86. Meanwhile, four petrol-laden ships arrived at Port Qasim on Tuesday, with 37,000 tonnes already offloaded and another 50,000 tonnes in the process of transfer.
Amid this crisis, the Minister of Petroleum met with the Saudi Ambassador again this morning, and additional flights carrying oil from Saudi Arabia are on their way to Pakistan. Officials are confident that, there will be no shortage of fuel in the country, as the Red Sea route becomes a critical lifeline in sustaining Pakistan’s energy needs during the ongoing turmoil in the Middle East.
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