The government is struggling to import natural gas and fuel oil in line with demand amid the war in the Middle East. Although an initiative was taken three months ago, it has not been able to import a single shipment of liquefied petroleum gas (LPG).
However, during the crisis, local businesses have imported a large volume of LPG.
According to data from the National Board of Revenue (NBR), LPG imports in March reached 211,000 tonnes, which is 38 per cent higher than the same period last year. All of this LPG was imported by the private sector.
While the increase in imports has eased concerns over the supply of this essential cooking fuel, consumers now face uncertainty over prices. This is because Saudi Arabia’s state-owned oil company Aramco has raised LPG prices for April by 44 per cent in the global market, while shipping costs have more than doubled.