Shahid Khaqan Abbasi said the major cause behind the fuel's shortage was an increase in its demand after more than 20 per cent decrease in the oil prices in the last two months.
He said the oil supply was increased by 30 per cent in the country, including by over "50 per cent in Islamabad and Rawalpindi, and 100 per cent in Lahore".
The shortages began earlier last week and peaked by the weekend, triggering protests and relentless criticism of the government as TV footages showed hundreds of people with cars and motorbikes lining up at fuel stations to get petrol.
Prime Minister Nawaz Sharif yesterday chaired a high-level meeting to resolve the crisis, and directed the Ministry of Water and Power to immediately work to reduce line losses and clear other liabilities.
Taking responsibility for the shortages, Abbasi said he was "ashamed" on behalf of the government.
Sharif was informed that measures are being taken to provide immediate relief to the people as 15,600 tons of petrol was supplied today all over the country against an average daily consumption of 12,000 tons. He was also informed that additional supply would be ensured in the coming month.
Finance minister Ishaq Dar, meanwhile, termed the petrol crisis as a "conspiracy to defame the government", saying those responsible will be bought to book.
Opposition parties said Sharif government has failed and it should resign.
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