March 4, 2026
ISLAMABAD – Saudi Arabia has formally guaranteed alternative oil supplies to Pakistan through the Red Sea port of Yanbu, bypassing the conflict-closed Strait of Hormuz following the US-Israel attack on Iran.
The assurance came during a high-level meeting between Federal Minister for Petroleum Ali Pervaiz Malik and Saudi Ambassador Nawaf bin Said Al-Malki in Islamabad on March 4, 2026 .
What Happened
| Key Point | Detail |
|---|---|
| Pakistan requested | Oil supplies via Yanbu Port (Red Sea) |
| Saudi response | “Will stand firmly with Pakistan to meet emergency requirements” |
| Immediate action | One Pakistani vessel dispatched to Yanbu for crude lifting |
| Why it matters | Bypasses Strait of Hormuz, now a war zone |
Why This Matters
The Problem:
The Strait of Hormuz through which 20% of global oil and most of Pakistan’s imports pass, is effectively closed after the US-Israel attack on Iran .
The Solution:
Yanbu Port on Saudi Arabia’s Red Sea coast offers a completely safe alternative route.
The Guarantee:
Saudi Ambassador affirmed the kingdom is “fully aware of the evolving situation” and will prioritize Pakistan’s oil needs .
In His Words
“Pakistan and the Kingdom of Saudi Arabia are brotherly countries and will continue to stand together, especially in these testing times.”
Saudi Ambassador Nawaf bin Said Al-Malki
“The support of brotherly countries like Saudi Arabia means a lot to Pakistan during challenging times.”
Petroleum Minister Ali Pervaiz Malik
Current Fuel Prices
| Fuel | Price |
|---|---|
| Petrol | Rs 266.17 per litre |
| Diesel | Rs 280.86 per litre |
Prices remain elevated, but supply is now secured.
Summary
No fuel shortage. Saudi Arabia has Pakistan’s back. One tanker is already sailing to Yanbu. The government’s 18-member committee continues daily monitoring . Petrol Price Pakistan for real-time fuel prices updates as govt. of Pakistan.