Fuel conservation vital as global oil prices may rise further: Tarar

Warning that international oil prices may rise further in the coming days, Federal Minister for Information and Broadcasting Attaullah Tarar on Saturday emphasised the need for a collective national effort for fuel conservation. Addressing a news conference in Lahore, while flanked by Minister for Petroleum Ali Pervaiz Malik, the information minister stated that a price hike of Rs150 for petrol and Rs250 for diesel has been averted overall, since inception of the US-Israel-Iran war, which might not be sustainable for a longer period. On behalf of the government, Tarar called on the general public to play an active role in fuel conservation in view of the current evolving global situation. The federal ministers appealed to the citizens to implement austerity measures in letter and spirit, such as avoiding unnecessary travel, promoting carpooling, work from home, and adopting e-learning in educational institutions. The petroleum minister said the saving these resources will make it easier to manage fuel imports and help the government redirect funds toward supporting the poor. He said oil refineries have been instructed to continue purchasing crude oil regardless of the cost to ensure its smooth supply in Pakistan. Ali also highlighted the efforts of Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Syed Asim Munir in securing oil supplies from Saudi Arabia and the United Arab Emirates. In his remarks, Tarar said adequate oil reserves are currently available in the country because of the proactive government measures. However, the masses should still avoid unnecessary fuel consumption, he added. He pointed out that global fuel prices have hit 158 dollars per barrel and the government is working and making all out efforts to protect the public from the financial burden of surging oil prices. “While global oil price hikes have inevitably impacted Pakistan, the government has shielded the public from a second consecutive price increase,” he said. To manage the energy crisis and preserve foreign exchange, the minister said the government itself has taken some austerity measures, including grounding 60% of government vehicles to reduce fuel consumption. “A 50% reduction in petrol usage has been mandated across all government departments,” he said, as efforts are being made to protect current petroleum stocks and save precious foreign exchange reserves. Minister Tarar urged citizens to avoid unnecessary travel and adopt austerity, emphasising that the government is leading by example through these strict internal cuts. Meanwhile, four vessels laden with gasoline, crude oil, and liquefied petroleum gas (LPG) arrived at Karachi’s ports over the past 24 hours, providing critical support to the country’s energy supplies as the Gulf region reels from a rapidly escalating conflict that has taken a direct aim at energy infrastructure across multiple countries, Business Recorder reported on March 20. The arrivals come at a particularly tense moment, as the Gulf conflict has shifted into what analysts are describing as a direct “Energy War” between Iran and regional Gulf states, following a series of attacks on energy installations in Iran, Qatar, the United Arab Emirates, Saudi Arabia, and Kuwait, raising alarm over the security and continuity of global fuel supplies. READ MORE: Oil tanker sails to Pakistan after crossing tense Strait of Hormuz: report Despite the volatile regional backdrop, Pakistan’s port authorities have confirmed the safe arrival of all four vessels, signalling the country’s continued ability to secure its energy imports through the turbulence.