Pakistan's petroleum import bill has shrunk notably in the current fiscal year, even as spending on crude oil edged upward, underscoring a complex shift in the country's energy consumption pattern.

Data released by the Pakistan Bureau of Statistics show that total imports of the petroleum group fell by 6.35% to $10.03bn during July-February of fiscal year 2025-26, compared with $10.71bn in the same period a year earlier. The contraction reflects subdued demand for refined fuels and liquefied gases, offset partly by a rise in crude purchases.

Within the petroleum basket, imports of petroleum products declined by 6.23%, dropping from $3.96bn to $3.71bn. The sharpest fall was recorded in liquefied natural gas (LNG), where imports plunged by 26.13% to $1.81bn, suggesting either reduced consumption or improved supply management. Liquefied petroleum gas (LPG) imports also eased, falling 3.94% to $696.5m.

In contrast, crude oil imports rose by 6.64%, reaching $3.81bn compared with $3.57bn a year earlier. This divergence hints at a possible strategic tilt towards domestic refining rather than reliance on finished petroleum products.

More recent data point to an even steeper decline. On a year-on-year basis, petroleum imports dropped by 21.25% in February 2026, falling to $982.9m from $1.25bn in February 2025. Month-on-month figures also indicate weakening demand, with imports decreasing by 7.31% compared with January 2026.

Taken together, the figures suggest a cooling in energy import demand, though the rise in crude purchases complicates the picture. Whether this reflects structural adjustments in Pakistan's energy mix or merely short-term fluctuations remains unclear.