Will the stove go out in Pakistan? Due to war, LPG cylinder became expensive by Rs 924, people are in distress

Oil-Gas Crisis in Pakistan: The ongoing conflict between America and Iran for the last one month has had a huge impact on the lives of common people in Pakistan. This neighboring country, which was already facing economic crisis, is now struggling with the rising prices of oil and gas. The huge increase in the price of domestic LPG cylinders has had a direct impact on the pockets of common citizens.

Pakistan’s Oil and Gas Regulatory Authority (OGRA) has increased the rates of LPG cylinders by 35 percent for April. Under this, the price of 11.8 kg domestic cylinder has been increased by 924 Pakistani rupees to Rs 3,588.60, whereas in March it was Rs 2,664.88. Ogra has fixed the LPG price for April at Rs 304.15 per kg, which was Rs 225.84 per kg in March.

Reason for increase in US-Iran war

The direct reason for this increase is the impact of the ongoing war between America and Iran on oil and gas supplies in the Gulf region. The attacks by Iran in the Strait of Hormuz have affected maritime trade and the global oil supply chain. The strait handles about 20 percent of the world’s oil trade.

80-85 percent of Pakistan’s total oil imports come from Gulf countries like Saudi Arabia, UAE and Kuwait, whose shipments go through this route. Petroleum products account for about 30 percent of Pakistan’s total imports.

Iran war will end soon

However, the news of relief amid the conflict is that US President Donald Trump said that America may soon withdraw its forces from Iran. He claimed that the US military action could end in “two or three weeks”. Trump also said the US had achieved its stated goals in the air strikes launched against Iran late last month.

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Meanwhile, rising domestic energy prices and the uncertainty of war in Pakistan are increasing economic pressure for ordinary citizens. At such a time, regional stability and security of oil supply have become important challenges for the country’s economy.