Driven by climbing global oil prices linked to ongoing Middle East tensions, Pakistan’s annual import bill for petroleum products has surpassed initial projections set by the International Monetary Fund (IMF).
Official documents reveal that Pakistan’s oil import bill reached 16.86 billion dollars for the fiscal year 2025–26, which concluded on June 30. This marks a 5.76 percent annual increase in fuel imports. The final total stands 1.58 billion dollars higher than the IMF’s original benchmark estimate of 15.28 billion dollars for the period.
The global surge in crude oil costs has created a severe dual impact. While the state’s external balance sheet faces added pressure, local consumers are concurrently grappling with record-high domestic prices for both petrol and diesel. Looking ahead, the IMF has projected Pakistan’s oil import expenditure for the current fiscal year 2026–27 at 16.31 billion dollars. However, if global market volatility persists, actual spending may once again outpace this baseline target.
