Members of the Senate Standing Committee on Finance were informed that the ongoing regional conflict is creating serious uncertainty in international oil markets. Officials explained that if the situation continues to disturb global crude oil supply, petrol prices in Pakistan could increase sharply in the future.

The warning came during a committee meeting chaired by Senator Saleem Mandviwalla. During the discussion, lawmakers were told that strong fluctuations in global oil prices may eventually push petrol prices close to Rs500 per litre in the local market.

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Finance Minister Muhammad Aurangzeb told the committee that international petroleum markets are currently facing sudden ups and downs because of geopolitical tensions in the region. These tensions are affecting global supply chains and creating pressure on oil prices worldwide.

Petroleum Minister Ali Pervaiz Malik said the government is carefully watching the global oil situation before making any major decisions about fuel prices in Pakistan. He explained that authorities are reviewing international price trends regularly.

The minister further said the government will assess global petroleum prices again before announcing the next revision in domestic petrol rates. Officials want to ensure that any decision is taken according to the changing global market conditions.

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The discussion has raised concerns among lawmakers because Pakistan heavily depends on imported oil. If global prices continue rising due to conflict or supply disruptions, the impact could directly reach local fuel prices and increase transportation and living costs.

If global oil prices rise sharply, Pakistan may face serious pressure on fuel prices. Petrol becoming very expensive could increase transport and food costs. The government will likely try to manage the situation, but much depends on global markets.