Oil price surge triggers panic buying as Pakistan plans fuel-saving measures

According to Golden Ten Data on March 9, as oil prices surpassed $100 and Middle Eastern natural gas supplies were disrupted, the Pakistani government plans to implement fuel-saving measures. This South Asian country, which is heavily dependent on imports, has already seen panic buying. Prime Minister Sharif held a meeting on Sunday to review possible austerity measures and called on government employees to use resources efficiently. Local media reported that the measures include working from home and carpooling to save fuel. Sharif is expected to announce these measures on Monday. On Saturday, the Pakistani government raised fuel prices by 55 rupees (20 cents), marking the largest increase in the country's history. Oil Minister Ali Pervaiz Malik warned that prices may be adjusted on a weekly basis.