Pakistan’s crude oil imports surged to an all-time high of $964 million in April 2026, marking the highest monthly level ever recorded and reflecting the impact of elevated global oil prices on the country’s import bill.
According to data compiled by Topline Research based on State Bank of Pakistan figures, the total petroleum group import bill reached $1.8 billion during the month, despite the absence of liquefied natural gas (LNG) imports.
The April crude oil import figure is nearly twice Pakistan’s long-term monthly average, which typically ranges between $200 million and $600 million. It also exceeds previous peak levels seen during earlier global commodity upcycles, including 2008, 2013, and 2022.
The increase was driven primarily by higher international crude prices rather than a major rise in volumes, highlighting Pakistan’s exposure to global energy market volatility. Even with relatively stable import quantities, higher per-barrel prices significantly lifted the overall import bill.
Notably, the petroleum import total reached $1.8 billion despite zero LNG shipments during the month, meaning crude oil and refined petroleum products accounted for the entire energy import burden. In earlier periods, LNG imports had contributed substantially to the monthly energy bill.
As a net energy-importing economy, Pakistan remains highly sensitive to fluctuations in global oil markets, particularly supply-side developments and geopolitical tensions affecting major producing regions.
The sharp rise in energy import costs may add pressure on Pakistan’s external account position, as petroleum products remain one of the largest components of the country’s import basket and a key driver of the trade deficit.
