US EditionPakistan 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.
12 Articles
12 Articles
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 …
US-Iran war affected Pakistan's growth as weekly oil bill surged to $800m: PM Shehbaz
Prime Minister Shehbaz Sharif on Wednesday said that the war in the Middle East had impacted Pakistan's growth, with the oil bill surging to $800 million weekly. Chairing a federal cabinet meeting in Islamabad, the prime minister said that Pakistan was heading towards a growth trajectory after achieving macro-level stability, but the US-Iran war had impacted the collective efforts of the past two years. PM Shehbaz stated that crude oil prices we…
Middle East war hit Pakistan's two years of economic gains, says PM Shehbaz
Govt in talks with provinces to continue subsidies in key sectors: PMSays Pakistan's weekly oil import bill rose from $300m to $800m.Says Pakistan made sincere efforts for peace and regional stability.Prime Minister Shehbaz...
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