LAHORE: Petroleum Minister Ali Pervaiz Malik has warned that the Petrol Price Could Reach Thousand Rupee per liter if a fuel shortage emerges in Pakistan, as global oil prices continue to rise amid renewed hostilities in the Middle East.
Speaking to journalists in Lahore, Malik said petroleum prices had already increased by around 50 per cent in Pakistan, while fuel prices in Europe and the United States had also risen sharply.
Petrol Price Could Reach Thousand Rupee per Liter Amid Global Oil Market Volatility
The petroleum minister said Houthi attacks were unacceptable and that the government was taking steps to provide relief to vulnerable segments of society affected by rising fuel costs.
On the domestic energy front, Malik said work had begun on oil wells and expressed hope that Pakistan could discover domestic crude oil by October. Such a discovery, he said, could help reduce the country’s dependence on expensive oil imports.
The warning comes amid heightened volatility in global oil markets following renewed hostilities in the Middle East and disruptions surrounding the Strait of Hormuz.
The latest escalation has raised concerns about potential disruptions to energy shipments and further increases in international oil prices.
Following the latest price revision, petrol is being sold at Rs389.14 per litre, while high-speed diesel is priced at Rs424.04 per litre.
Government Announces Fuel Relief Scheme
In response to rising fuel prices, Prime Minister Shehbaz Sharif launched a relief scheme offering a Rs100-per-litre discount on petrol for motorcyclists, rickshaw and Chingchi owners, and drivers of vehicles with engines up to 800cc.
Federal Minister for IT and Telecommunication Shaza Fatima later announced several changes to the scheme. Eligibility was extended to motorcycles registered from January 1, 2006, compared with the previous 2011 cut-off.
The previous five-litre limit per token was also removed, allowing eligible two- and three-wheeler users to purchase fuel according to their requirements. Each eligible user can receive four tokens per month, with each token providing Rs500 in relief.
Also Read: PM Fuel Relief Scheme: Govt Abolishes Five-Litre Petrol Limit Per Token
Fatima gave an example in which two litres of petrol costing Rs780 would require a beneficiary to pay Rs280 after the Rs500 relief token was applied.
The government also abolished SMS charges under the scheme, making messaging free for all beneficiaries.
According to Fatima, more than 1.75 million registrations had been completed by 3pm, around 1.5 million tokens had been generated, and more than 680,000 tokens had already been redeemed at petrol stations.
