The federal government has directed all provincial administrations to ensure physical inspections of retail petrol pumps. Deputy commissioners in every district have been asked to monitor fuel stations closely to prevent the illegal hoarding of petroleum products.
Officials fear that some elements may try to store petrol and diesel to earn extra profit during uncertain global conditions. To tackle this, authorities have decided to tighten monitoring across the supply chain.
At the same time, the government has appointed Hamed Yaqoob Sheikh, a grade 22 officer of the Pakistan Administrative Service, as the new secretary of the Petroleum Division. The position had remained vacant for the last few months. Sheikh previously served as secretary finance and planning and was recently working as secretary national food security.
In a statement, the Oil and Gas Regulatory Authority said the country currently has enough petroleum stocks to meet national demand. The regulator assured the public that there is no need for panic buying or stockpiling of fuel.
Read more: Petrol prices increased in Pakistan for next 15 days
Ogra added that authorities are closely monitoring the supply chain due to the ongoing geopolitical tensions. “The existing stock position remains comfortable and well within the prescribed requirements,” the regulator said.
The authority warned that strict action will be taken against anyone involved in illegal hoarding or storage of petroleum products at unauthorized places. Any premises found storing fuel illegally will be sealed immediately.
Officials are also considering a major change in the petroleum pricing mechanism. The government is reviewing a proposal to shift fuel price adjustments from the current fortnightly system to a weekly review.
Latest estimates suggest petrol and diesel prices could increase by Rs25-50 per litre if the weekly pricing system is introduced. The government is also considering giving full financial cover to oil marketing companies to ensure smooth imports.
To reduce fuel consumption, authorities are also reviewing a proposal to encourage work-from-home arrangements in both government and private sectors.
Meanwhile, inspections of oil depots and retail outlets have already started in several areas. Ogra teams are visiting fuel stations to ensure smooth supply and prevent any malpractice.
Read more: Middle East tensions soar as US and Israel intensify attacks on Iran
The regulator also advised the public not to pay attention to rumours and continue normal fuel usage, saying the petroleum supply situation remains stable.
The concerns over fuel supply have increased as the war between the United States, Israel and Iran entered its sixth day. The conflict has disrupted global supply chains, especially in the Strait of Hormuz, which is a key route for oil shipments.
Finance Minister Muhammad Aurangzeb also warned that while there is no fuel shortage at the moment, the situation could become serious if the war continues for a longer period.
Pakistan has already requested Saudi Arabia to help ensure an alternative oil supply route through the Red Sea to maintain fuel imports.
The government is also preparing several emergency steps to keep markets stable, including weekly fuel price reviews and conservation measures.
Meanwhile, the Oil Marketing Association of Pakistan wrote to the Ogra chairman raising concerns about fuel supply commitments made by local refineries during a recent product review meeting.
