Pakistan PM: Oil Import Costs Up 167% Since Iran War Began
Shehbaz Sharif said Pakistan’s pre-war oil bill was about $300 million a week, as global fuel prices climbed and shipping through the Strait of Hormuz stalled.
- On Wednesday, April 29, 2026, Prime Minister Shehbaz Sharif announced that Pakistan's weekly oil import bill has surged to $800 million, up sharply from approximately $300 million before the Middle East conflict began.
- The ongoing conflict, which began February 28 following joint strikes by the United States and Israel against Iran, has disrupted energy markets and pushed global oil prices to significant levels, Sharif said.
- To mitigate the fuel crisis, the government has grounded approximately 60% of official vehicles and slashed fuel allowances by 50% for departments; public sector offices are moving to a four-day work week, Sharif reported.
- Pakistan has engaged in sustained diplomatic efforts to promote regional stability, hosting 21 hours of talks between Iran and the United States on April 11 that helped secure a ceasefire extension, the premier said.
- Despite the economic strain, Sharif highlighted that Pakistan has successfully repaid $3.5 billion in bilateral loans while Saudi Arabia recently transferred a $3 billion deposit to bolster foreign reserves for a further three years.
19 Articles
19 Articles
Pak reels under oil shock, weekly crude bill jumps to Rs 7600 crore amid Iran war
Pakistan's weekly oil import bill has climbed from $300 million to nearly $800 million as the West Asia conflict pushes up global crude prices. The government says it has started conservation and austerity steps while reviewing fuel prices every week.
Pakistan’s weekly oil import bill surges to $800m from $300m due to US-Iran war, says PM
ISLAMABAD - Prime Minister Shehbaz Sharif on Wednesday said that Pakistan was still continuing its efforts to maintain peace in the region, highlighting the country’s proactive diplomatic role in easing tensions and promoting stability.
Pakistan PM: Oil Import Costs Up 167% Since Iran War Began
Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that the country’s oil import bill has jumped 167% to $800 million per week amid the war in Iran from around $300 million weekly before the conflict began. Brent crude for June delivery was trading at $114.75 per barrel at 7.00 am ET on Wednesday, a big jump from the low 70s before the war, while the corresponding WTI crude contract was changing hands at $103.33/bbl from mid 60s in …
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