Islamabad, March 14, 2026: Pakistan’s petroleum product imports experienced a significant decline in February 2026, even before the escalation of the Iran war, highlighting ongoing energy challenges in the country.
According to the latest data released by the Pakistan Bureau of Statistics (PBS), the import bill for petroleum products stood at $284 million in February 2026, down 39% from $467.60 million in the same month last year. Compared to January 2026, imports also fell 7%, from $306 million.
In terms of volume, Pakistan imported 27% less petroleum products in February 2026 compared to February 2025, and 11.37% less than January 2026.
Regional Tensions Exacerbate Energy Crisis
The situation has worsened following the US and Israel attacks on Iran on February 28, 2026, which have triggered an acute energy crisis across the region. While Pakistan has arranged alternative routes to maintain petroleum supply, the costs remain substantially high, putting pressure on the national economy.
Crude Oil Imports Show Mixed Trend
Crude oil imports in February 2026 saw a 4.55% decline year-on-year but increased by 8% compared to January 2026, indicating partial mitigation through strategic sourcing.
Fiscal Year Trends
During the first eight months (July 2025–February 2026) of the current fiscal year, total petroleum group imports fell 6.35% to $10 billion, down from $10.71 billion in the corresponding period of the previous fiscal year. Specifically, petroleum product imports dropped 6.23% to $3.71 billion, whereas crude oil imports rose 6.64% to $3.81 billion over the same period.
A major reduction was observed in Liquefied Natural Gas (LNG) imports, which declined 26% to $1.81 billion, down sharply from $3.57 billion in the same months of the last fiscal year.
Outlook
Analysts warn that as the Iran conflict continues, Pakistan’s energy security will face further challenges, and higher costs for petroleum products could impact domestic fuel prices and industrial production. Strategic sourcing and alternative supply routes remain crucial to stabilize the country’s energy supply.