The federal government has decided to revise petroleum prices weekly starting March 8 and is preparing fuel-saving measures, including work-from-home policies, carpooling, and online learning, to reduce domestic fuel demand.
A cabinet committee tasked with monitoring petrol prices finalized a national action plan today in consultation with provincial authorities, which will now be submitted to Prime Minister Shehbaz Sharif for approval.
The approved plan is expected to be implemented by the federal Economic Coordination Committee, ensuring timely execution of measures to safeguard domestic petroleum supplies and maintain market stability during global uncertainty.
During the review, the committee confirmed that national petroleum reserves remain sufficient, while stressing that global energy market volatility and rising shipping costs require careful monitoring and diversified sourcing strategies.
Officials emphasized the need for alternative oil supply routes, timely logistics, and coordinated international procurement to ensure uninterrupted domestic fuel availability and to prevent potential shortages in key urban centers.
Contingency measures under discussion include protocols from the COVID-19 pandemic, such as carpooling, remote work, and online learning, aimed at conserving fuel and limiting pressure on foreign exchange reserves.
Coordination with provincial administrations and regulatory authorities will focus on curbing hoarding, illegal storage, smuggling, and any disruption in fuel distribution networks, ensuring smooth supply across the country.
The government also reviewed the supply chains of liquefied petroleum gas (LPG) and liquefied natural gas (LNG), considering efficient demand management strategies while prioritizing essential sectors and industrial consumption.
The weekly petroleum price revision mechanism is being introduced for the first time since 2020, aiming to provide timely market adjustments and reduce sudden shocks to consumers and businesses.
Officials noted that the global oil market remains highly unpredictable, with supply risks increasing due to geopolitical tensions, emphasizing that Pakistan’s diversified procurement and contingency planning are key to energy security.
