Pakistan’s government and industry officials have assured that the country has enough fuel reserves to meet demand for at least a month as conflict between US-Israel and Iran entered into third day.
Pakistan’s Petroleum Division has been instructed to provide daily stock reports, while the Oil and Gas Regulatory Authority (OGRA) is overseeing market stability.
According to OGRA spokesperson Imran Ghaznavi Pakistan has 28 days’ supply of petrol and diesel in stock.
The country relies heavily on imports, with the bulk of its crude oil and petroleum shipments passing through the Strait of Hormuz, a critical maritime route between Iran and Oman linking the Gulf to the Arabian Sea.
On Saturday, Tehran temporarily closed the waterway, citing dangers from US and Israeli attacks. Typically, tankers carrying around 20 percent of global oil consumption traverse the Strait daily, including cargoes from Saudi Arabia, Iraq, Iran, UAE, Kuwait, and Qatar.
https://archive.mmnews.tv/oil-prices-surge-13-amid-supply-disruption/
