Pakistan’s weekly oil import bill has surged to $800 million amid the ongoing Middle East war, Prime Minister Shehbaz Sharif said on Wednesday. The sharp increase follows rising global fuel prices after recent regional conflict. The spike is straining the country’s economy and affecting energy costs nationwide.
Speaking at a federal cabinet meeting, the prime minister highlighted the rapid rise in global oil prices. He noted that before the conflict, Pakistan’s weekly oil bill stood at around $300 million. However, escalating tensions have significantly increased import costs.
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The surge in prices comes after the United States and Israel launched joint strikes on Iran, disrupting global energy markets. As a result, fuel prices have climbed steadily over the past two months. This trend has directly impacted oil-importing countries like Pakistan.
Despite the pressure, the prime minister said domestic fuel consumption has declined compared to previous weeks. He added that the government is closely monitoring the situation to manage supply and demand. Officials believe these measures have helped stabilize the immediate crisis.
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Shehbaz Sharif also noted that Pakistan’s economic progress has faced setbacks due to the conflict. He said the country had shown improvement in key economic indicators before the war began. However, rising energy costs now pose fresh challenges to sustaining that progress.