Latest news with #Rs266.79
Express Tribune
2 days ago
- Business
- Express Tribune
Passenger train fares jacked up by 2%
The Pakistan Railways has made a 2% increase in the fares of passenger trains in view of a hike in the price of High Speed Diesel (HSD). This increase in fares will take effect from today, July 18. An undated office memorandum seen by The Express Tribune directed the director IT to ensure the announcement of the new fares on the PR website. The railways has also increased the rate of its freight trains transporting coal by 3% and the trains transporting rock phosphates and fertilizers by 2%. These hikes will apply from July 21. The government on Tuesday raised the prices of petroleum products by up to Rs11 per litre for the second half of July in a regressive step that is likely to exacerbate the economic hardships of people. According to a notification issued by the Finance Division on July 15, petrol price went up by Rs5.36 - from Rs266.79 to Rs272.15 per litre, while the price of the HSD rose by Rs11.37 per litre - from Rs272.98 to Rs284.35 for the July 16-31 period. This hike in the HSD price increased the cost of the PR operation by Rs4 million [39,86,500] per day and around R199 million [119,500,000] per month. On an average, the PR consumes around 350,000 litres of HSD on a daily basis.
Express Tribune
4 days ago
- Business
- Express Tribune
Fuel prices hit new peaks, sending consumers reeling
Listen to article The government on Tuesday hiked the prices of petroleum products by up to Rs11 per litre for the second half of July 2025 in a regressive step that would exacerbate the economic hardships faced by the common man. This is the second consecutive increase in the prices of petrol and diesel since the start of the new fiscal year on July 1. On June 30, the government had increased the fuel prices by up to Rs10 for the first fortnight of the current month that ended on Tuesday. Separately, the Oil and Gas Regulatory Authority (Ogra) announced a reduction in the prices of re-gasified liquefied natural gas (RLNG) for the current month, while the rate of kerosene oil and the light diesel oil also came down slightly. According to a notification issued by the Finance Division, petrol price went up by Rs5.36 — from Rs266.79 to Rs272.15 per litre, while the high-speed diesel (HSD) rose by Rs11.37 per litre — from Rs272.98 to Rs284.35 for the July 16-31 period. This latest adjustment in the petrol and HSD prices reflects persistent volatility in the global oil markets. It also shows the government's fiscal constraints in meeting its ambitious revenue targets as it is already charging highest rate of petroleum levy (PL) on the petroleum products to collect revenue. The government said that it had taken the latest decision on the recommendations of Ogra and the relevant ministries. "The Government has decided to revise the prices of petroleum products for the fortnight starting July 16, based on the recommendations of OGRA & the relevant ministries," it said. Ogra had recommended the increase in the prices of petroleum products based on Rs78.02 per litre PL on petrol and Rs77.01 on HSD. It had also assumed Inland Freight Equalisation Margin (IFEM) at Rs8.89 per litre on petrol and Rs6.04 on HSD. The exchange rate adjustment was calculated at Rs3 per litre on petrol and Rs2 on HSD. Diesel is widely used in agriculture and freight transport, and any price increase directly impacts the cost of goods and services. Petrol, meanwhile, fuels motorcycles and cars, and serves as an alternative to compressed natural gas (CNG), especially in Punjab, where CNG stations rely on imported LNG. The fresh price hike is expected to further widen the gap between stagnant household incomes and the rising cost of living. Analysts have warned that without the fiscal space or targeted subsidies, the brunt of global oil volatility will continue to be passed on to the end users. The government had the space to rescue the consumers from the current hike in oil prices by slashing the rate of PL, but it did not compromise on revenue collection and, hence, passed on the full impact of the increase in oil prices in the global market to the consumers. On July 1, the federal government has increased petrol and HSD prices significantly, attributing the hike to global market volatility amid the Iran-Israel war. Petrol was increased by Rs8.36 to Rs266.79 per litre, and HSD by Rs10.39 to Rs272.98, based on Ogra's recommendation. Pakistan imports petroleum products to meet around 85% of its local consumption, whereas 15% needs are met through locally-produced crude oil. At present, consumers are already paying over Rs77 per litre in PL. The current year's budget also includes a new carbon levy, further pushing the fuel prices. Meanwhile, in the deregulated market, kerosene oil becomes cheaper by Rs3.10 and the price of the LDO came down by Rs1.85, while Ogra, through a notification, announced a reduction in the RLNG prices for the current month on the back of slight decrease in the delivered ex-ship (DES) price. According to the Ogra notification, the RLNG prices for the Sui Northern Gas Pipelines Limited (SNGPL) and the Sui Southern Gas Company (SSGC) had undergone changes in both transmission and distribution segments. For the SNGPL, the new transmission price has been set at $10.8338 per million British thermal units (mmBtu), down from $11.0154, reflecting decrease of $0.1816, or 1.65%. The distribution price has been revised to $11.5787 per mmBtu from $11.7816, marking decrease of $0.2029, or 1.72%. Similarly, the SSGC's transmission price has been decreased from $9.7284 per mmBtu in June to $9.4713 in July, a decline of 2.64%. However, the distribution price has also gone down from $10.8650 per mmBtu to $10.5737, a reduction of $0.2913, or 2.68%.
Express Tribune
4 days ago
- Business
- Express Tribune
Govt raises fuel prices again for next fortnight
Government has once again announced an increase in petrol and diesel prices, following a continued upward trend in global crude oil prices and growing economic challenges, according to a notification issued by the Finance Division late Tuesday night. The Finance Division confirmed that petrol prices have been raised by Rs5.36 per litre, while diesel prices have increased by Rs11.37 per litre. This revision will take effect immediately from July 16, impacting millions of motorists and transport operators across the country. The price of petrol has increased from Rs266.79 to Rs272.15 per litre, while high-speed diesel (HSD) now costs Rs284.35 per litre, up from the previous Rs272.98. The government stated that the rise in fuel prices is a result of fluctuating international market trends, which have driven up global oil prices. Fuel prices in Pakistan are reviewed fortnightly, with adjustments based on changes in international oil prices and the local currency exchange rate. On July 1, the federal government had increased petrol and diesel prices significantly for the first fortnight of the month, attributing the hike to global market volatility amid the 12-day Iran-Israel conflict. Read More: Govt sticks to the script, hikes fuel prices again Petrol rose by Rs8.36 to Rs266.79 per litre, and high-speed diesel by Rs10.39 to Rs272.98, based on the Oil and Gas Regulatory Authority's (OGRA) recommendation. Pakistan, which imports around 85% of its petroleum needs, was directly impacted by the Middle East crisis.
Business Recorder
5 days ago
- Business
- Business Recorder
Fuel prices likely to increase
ISLAMABAD: Petrol and diesel prices in Pakistan are expected to increase by up to Rs6.60 (2.5 percent) per litre for the next 15 days starting from July 16, 2025, according to an estimate of the petroleum industry. The estimated increase includes Rs6.60 per litre increase in petrol and Rs5.27 per litre (1.9 percent) rise in High-Speed Diesel (HSD). However, other petroleum products - kerosene oil and Light Diesel Oil (LDO) - may witness reductions of Rs3.74 (2 percent) and Rs2.23 per litre (1.3 percent), respectively. The estimates are based at Rs78.02 per litre Petroleum Levy (PL) and CSL on petrol and Rs77.01 per litre PL/CSL on HSD. Inland Freight Equalization Margin (IFEM) is assumed at Rs8.89 per litre on petrol and Rs6.04 per litre on HSD. Exchange rate adjustment on petrol may be Rs3 per litre on petrol and Rs2 per litre on HSD. Govt hikes petrol price by Rs8.36, diesel by Rs10.39 per litre According to the estimates, the premium on petrol is $9.68 per bbl and $3.25 per bbl on HSD. The Oil and Gas Regulatory Authority (OGRA) will finalise its recommendations on 15 July based on the latest global market trends and government's budgetary target of PL and carbon tax and Finance Division will announce new petroleum prices. In case the estimates of oil industry implements, the price of petrol would go up from Rs266.79 per litre to Rs273.39 per litre and HSD's price would rise from Rs272.98 to Rs278.25 per litre. On July 1, the federal government has increased petrol and HSD prices significantly attributing the hike to global market volatility amid the Iran-Israel war. Petrol increased by Rs8.36 to Rs266.79 per litre, and HSD by Rs10.39 to Rs272.98, based on OGRA's recommendation. Pakistan imports refined petrol around 85 percent of its petroleum consumption and 15 percent crude oil. Copyright Business Recorder, 2025
Express Tribune
01-07-2025
- Business
- Express Tribune
Commuting costlier after fuel shock
In response to the sharp increase in petrol and diesel prices, transporters across the board on Tuesday raised fares on all long-route, inter-district, intra-city, and local routes, including the twin cities of Rawalpindi and Islamabad. Fares on all local routes in the twin cities were increased by Rs10 to Rs20. The sudden increase in fares led to frequent disputes between passengers and conductors throughout the day. Pakistan Railways has also decided to increase fares, with an official circular expected within 24 hours. Intra-city transport services such as wagons, taxis, Suzuki vans, Qingqi rickshaws, and motorcycle ride-hailing services (like Bykea) all significantly raised their rates. As a result of higher transportation costs, prices of essential goods, including food items, fruits, and vegetables, are also expected to rise. According to the Transport Federation, Intercity Transport Union, and Taxi Rickshaw Union, the fare hike was unavoidable due to the petrol price reaching Rs266.79 per litre and diesel Rs277.98 per litre. In addition, the new federal budget has increased the prices of vehicle spare parts, traffic challans (fines), and tyres by 35% to 40%, further straining the transport sector Asif Khan, Vice President of the Transport Federation, says the rising costs of fuel, spare parts, and tyres are severely damaging the transport business. Tariq Khan, President of the Rickshaw and Taxi Union, says fare hikes are inevitable with rising fuel prices and has urged the public not to be angry, noting that employee salaries have also been increased. Abdullah Khan, Secretary of the Suzuki Drivers Union, says Suzuki fares have gone up by Rs10 per passenger. Bykea drivers have increased their fares from Rs100 to Rs150, while rickshaw drivers are now charging Rs300 instead of Rs200, with the minimum rickshaw fare now set at Rs200. On routes such as Raja Bazaar to Kacheri, Rawat, Sihala, Adiala Jail, Adiala Village, Golra, Bari Imam, and Pirwadhai, fares have been increased by Rs20 per passenger. Stop-to-stop fares have risen from Rs20 to Rs30. Citizens like Basharat Iqbal Raja and Sharif Qureshi have criticised the government's decision, pointing out that global oil prices have dropped to a historic low of $65 per barrel, yet Pakistan has increased domestic prices. They termed it a cruel move and demanded immediate price reductions. Citizens noted that during the PTI government, global oil prices were around $120 per barrel while petrol in Pakistan was priced between Rs150155 per litre. Now, with global prices nearly halved, the government should provide relief by reducing petrol prices to Rs150 per litre.
