Pakistan Is Now Paying a Record Premium for Fuel Imports

Pakistan is paying an all-time high premium of $34 per barrel on petroleum product imports amid the supply crunch caused by the war in the Middle East. Previously, Pakistan State Oil was paying around $12 per barrel over benchmark prices, the Express Tribune reported, citing a letter by the state company to Pakistan’s oil regulator urging it to include the higher premiums in local fuel prices. The company, however, proposed that the government cover the difference rather than passing the record premiums on to end consumers. “Considering…