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Government Cuts Petrol and Diesel Prices, Offers Relief Amid Rising Costs

1Sep

By Tahreem AkramNo Comments

Pakistan

Government Cuts Petrol and Diesel Prices, Offers Relief Amid Rising Costs

Federal government has announced a reduction in prices of petrol and diesel, providing some relief to the public amidst ongoing rise in the cost of living. New pricing structure, which is effective immediately, offers modest decreases across several types of fuel. Government lowered the price of petrol by Rs 1.86 per litre, bringing the cost down to Rs 259.10 per litre. This reduction will ease the financial burden on consumers, especially those who rely on petrol for their daily commute. High-speed diesel, another widely used fuel, has also seen a significant decrease. Government reduced the price by Rs 3.32 per litre, now costing Rs 262.75 per litre. This drop is likely to benefit transporters and industries that depend heavily on diesel. Kerosene oil, often used for cooking and h...

No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

4Jul

By Tahreem AkramNo Comments

Pakistan

No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

The Pakistan Petroleum Dealers Association (PPDA) has declared a nationwide strike starting July 5. This action is in protest against the newly implemented 0.5% advance tax on turnover, included in the federal budget for 2024-25. The PPDA claims that this tax will severely harm their businesses, which are already struggling due to high taxes and inflation. PPDA Chairman Abdul Sami Khan stated that the strike might extend beyond one day and advised dealers to keep their petrol pumps stocked until July 4. He also urged citizens to fill their vehicles before the strike begins. “We met with the finance minister, the chairman of the FBR, officials of the Petroleum Division, chairman of OGRA, and DG Oil, DG Explosive but the talks yielded no results, which is why we are striking. Doubl...

2Oct

By Azmat ShabbirNo Comments

Latest

Petrol prices decreased by 12.63 rupees

After a successive increase in petrol prices, current government has announced a reduction, which is breath for people suffering from inflation. Addressing media in Islamabad on Friday, “In his first press conference, newly appointed Finance Minister Ishaq Dar announced a huge shortfall of billions of rupees. A chart of new prices will come at midnight tonight, the newly appointed finance minister said in his press conference. “Petrol prices reduced by Rs 12.63 to Rs 224.80 per liter from Rs 237.43. Similarly the price of high-speed diesel reduced by Rs 12.13. Now it will be sold at Rs 235.30, down from the current Rs 247.43,” Finance Minister said. New price of kerosene will be Rs 191.83 after a reduction of Rs 10.19. And the price of light diesel oil will be ...

Petrol and Diesel consumption decreased in June in Pakistan

9Jul

By Aqsa Azam1 Comment

Business

Petrol and Diesel consumption decreased in June in Pakistan

Petrol and diesel consumption decreased by 12% and 16% respectively in the month of June in Pakistan. The imposition of taxes and ending the subsidies on fuel have affected badly to the people around the country. In the past few months, Pakistan has faced many challenges due to inflation. People around the country are not satisfied with the new government. They have ended the subsidies on petrol and diesel. This has increased the fuel price from 150 to 250 till now. It is due to the imposition of taxes as well. Due to this, the petrol and the diesel demand is decreased by 12% and 16% respectively. Three types of vehicles mainly consume fuel. It includes two, three, and four-wheeler vehicles. However, industrial and agriculture sectors consume diesel. The buying power of the peop...

Mari Petroleum announced discovery of massive gas reservoirs

4Jun

By Muhammad Dastageer Shams1 Comment

Latest

Mari Petroleum announced discovery of massive gas reservoirs

Mari Petroleum Company Limited (MPCL) has found a major gas repository of one trillion cubic feet in North Waziristan. Which will be useful in saving the country's unfamiliar settlement of roughly $1.5 billion for every annum. As per the MPCL, the creation of 25 million cubic feet of gas has begun from the ST-1 exploration well drilled in Bannu west block, situated in North Waziristan, Khyber Pakhtunkhwa. Also, more gas supply from different wells will be 200 million cubic feet each day (MMCFD). Additionally, raw petroleum creation from the Bannu west block has likewise begun. “This is good news, after a long time, for an energy-starved country. As it estimated that this reservoir will produce approximately 15 percent of the total gas production of the country.” Said a source relate...