Pakistan · World · Independent Digital Newsroom
On July 17, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified daily, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.On September 13, PM Shehbaz announced a special relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars….
Around 10 million two-wheeler users and 800,000 three-wheeler users would be entitled to relief on 20 litres of fuel per month, translating into a maximum monthly benefit of Rs2,000 per beneficiary.Another one million users of cars up to 800cc would receive relief on 30 litres per month, providing them with a maximum benefit of Rs3,000 each.On Sept 17, the government reintroduced austerity and fuel conservation measures amid rising fuel prices,….
Takeaway and home delivery services would remain exempt from the timing restrictions.Global geopolitical developments continue to pose significant risks.
International oil prices are influenced by decisions taken by OPEC+, conflicts in the Middle East, sanctions on oil-producing nations, and disruptions in critical shipping routes such as the Strait of Hormuz and the Red Sea.
Any interruption in these supply chains can immediately increase crude oil prices and freight costs.
Since Pakistan imports the majority of its petroleum requirements, these developments quickly translate into higher domestic fuel prices.Oil prices fell on Friday as Middle East supply concerns eased after President Donald Trump said the US would not attack Iran before midterm elections next month and talked of "productive" talks to end their war that has disrupted global energy markets.Trump also teased an upcoming, undisclosed announcement on diesel and said he….
US West Texas Intermediate crude futures fell 22 cents or 0.2% to $91.28.Trump's Iran pledge, along with China's resumption of product exports, was moving prices lower, said PVM Oil Associates analyst Tamas Varga.
Govt cuts petrol by 66 paisas, increases diesel by 52 paisas till Oct 12 Web Desk | Updated 7 minutes ago | Petrol price decreases to Rs398.3 per litre, while HSD will cost Rs396.24 under daily price mechanism.
