Latest news with #Rs252.63
Express Tribune
15-06-2025
- Business
- Express Tribune
Panel to monitor impact on oil prices
Prime Minister Shehbaz Sharif has formed a 16-member committee to monitor the impact of the volatility in oil prices in the wake of Israel's attack on Iran, a major oil producing country. A notification issued on Friday by the Ministry of Energy said there has been a sudden spike in oil prices in the international market after the start of the Israel-Iran conflict. According to the notification, the committee — to be convened by the minister and finance — includes petroleum, power ministers, state minister for finance as well as the governor of the State Bank. The committee will closely monitor the forward/futures prices of Petroleum Products and the predictability of supply chain in view of the current conflict in the region. It will also determine forex implications of price volatility for the short and medium term and suggest a plan if required — to ensure that there are no supply disruptions and the market is well supplied. It will also carry out a detailed analysis of the fiscal impact, in the event of a protracted conflict. The committee may co-opt any other member as deemed necessary for the fulfillment of its mandate. "The Petroleum Division shall provide secretarial support to the committee. The committee shall submit its recommendations on a weekly basis for the perusal of the prime minister," it added. Fuel prices Consumers brace for yet another hike in fuel prices as estimates suggest that petrol and high-speed diesel (HSD) rates may increase in the upcoming fortnightly review, largely driven by a surge in international oil prices. According to official sources familiar with the pricing structure, petrol is expected to see a marginal rise of around Re1 per litre, while the price of high-speed diesel could go up by approximately Rs5 per litre. The changes would apply from June 16 to June 30, with the final decision to be made based on import cost calculations on June 15. At present, the ex-depot price of petrol stands at Rs252.63 per litre. Widely used in motorcycles, rickshaws and private cars, any change in petrol price significantly impacts the expenses of the middle and lower-middle income groups. Meanwhile, the ex-depot price of HSD is Rs254.64 per litre. Diesel fuels the bulk of Pakistan's heavy transport sector, including trucks, buses, tractors and farm machinery such as threshers and tube wells. Given its broad use in agriculture and freight, an increase in diesel price typically triggers inflation across food supply chains.
Express Tribune
31-05-2025
- Business
- Express Tribune
Government increases petrol price for next fortnight
The federal government on Saturday announced an increase of Rs1 per litre in the price of petrol, while the price of high-speed diesel (HSD) was maintained at the existing rate. According to a notification issued by the Ministry of Finance, the price of petrol has been raised from Rs252.63 per litre to Rs253.63 per litre, while the price of HSD remains unchanged at Rs254.64 per litre. The new prices will take effect from midnight and will remain in place for fifteen days. Earlier in May, the government had kept petrol prices unchanged for two weeks but cut the price of HSD by Rs2 per litre, effective from May 16.
Express Tribune
15-05-2025
- Automotive
- Express Tribune
Diesel price slashed by Rs2/litre, petrol unchanged
Petrol was being sold at Rs272.95 per litre whereas diesel at Rs273.40 per litre earlier. PHOTO: FILE The federal government kept the petrol price unchanged for the next fortnight while it slashed high speed diesel price by Rs2 per litre. The new prices will be applicable from May 16. According to a notification issued by the Finance Department, the petrol will continue to be sold at Rs252.63 per litre while the high speed diesel (HSD) will be sold at Rs254.64 per litre with the decline of Rs2 per litre. Besides, the price of kerosene oil was reduced by Rs5.04 per litre to Rs164.65 per litre and the price of light diesel oil was declined by Rs4.68 per litre to Rs150.65 per litre.
Business Recorder
15-05-2025
- Automotive
- Business Recorder
Rs2 cut in HSD price, petrol rate unchanged
KARACHI: The federal government on Thursday decided to keep the price of petrol unchanged at Rs252.63 per litre for the next fortnight, despite a decline in international petroleum rates. The move comes as part of a decision to transfer the potential consumer relief to oil refineries, marketing companies, and dealers instead. However, the price of High-Speed Diesel (HSD) has been reduced by Rs2, bringing it down from Rs256.64 to Rs254.64 per litre, according to a notification issued by the Finance Division. The new prices are effective from May 16, 2025. The decision was made on the recommendation of OGRA and relevant ministries. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
Govt keeps petrol price unchanged, reduces diesel rate by Rs2 per litre
The government has decided to maintain the petrol price at its current level for the fortnight starting May 16, according to a Finance Division notification. For the next 15 days, the price of petrol will remain same at Rs252.63 per litre. Meanwhile, the government reduced the High Speed Diesel (HSD) rate by Rs2 to Rs254.64 per litre. The new prices will come into effect from May 16, 2025.
