Author: Admin

ISLAMABAD: Pakistan has fully secured its fuel requirements for March, with sufficient stocks and supply arrangements in place to ensure availability until mid-April, a high-level committee reviewing petroleum prices was informed on Monday. The committee, chaired by Finance Minister Muhammad Aurangzeb, was briefed that the country remains “adequately positioned” in terms of fuel availability, with ongoing import planning and logistics supporting continued supply. Efforts are also underway to extend coverage through the end of April amid evolving regional challenges. The meeting, held at the Finance Division, reviewed national inventories of…

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Global oil markets have been thrown into turmoil as key Middle Eastern crude benchmarks — Oman and Dubai — surged to record highs following supply disruptions caused by the ongoing US-Israel war with Iran, raising concerns about market distortions and benchmark reliability. Spot premiums for Dubai crude soared to an unprecedented $56 per barrel on Monday, a dramatic jump from an average of just 90 cents in February, according to data from S&P Global Platts and Reuters. The premium now accounts for nearly one-third of Dubai crude’s total value, with…

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ISLAMABAD: The federal government is considering a subsidised fuel scheme for motorcyclists and rickshaw drivers to ease the burden of rising oil prices, following a similar initiative by the Khyber Pakhtunkhwa government. Petroleum Secretary Hamed Yaqoob Sheikh informed the Senate Standing Committee on Petroleum that a relief package is being finalised to support low-income commuters who rely heavily on motorcycles and rickshaws. He said the government is taking steps aimed at mitigating the impact of recent fuel price hikes on the public. The development comes in the wake of significant…

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