The federal government increased the price of petrol by Rs2.84 per litre and High-Speed Diesel (HSD) by Rs2.28 per litre, effective from Friday, September 4. According to a notification issued by the Ministry of Energy (Petroleum Division), the Oil and Gas Regulatory Authority (OGRA) on Thursday revised the ex-depot prices of petroleum products under the government’s petroleum pricing mechanism. High Speed Diesel (HSD) saw a hike of Rs2.28 per litre, rising from Rs372.03 to Rs374.31 per litre. The new prices will remain in effect until Friday, in line with the…
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Iran targets US bases as Israel warns sanctions could drive Tehran to ‘desperate steps’
Iran has continued to demonstrate an ability to target bases in the Gulf used by the US despite six months of war and a new sanctions regime described by the Trump administration as an “economic D-day”. As Iran’s military targeted US bases in the United Arab Emirates and Kuwait, despite threats of further strikes by the US president, Israel’s defence chief warned that economic pressures from the sanctions could lead Tehran to escalate to more “extreme measures”. “This morning, the army hit the satellite communication systems, equipment depots and fighter aircraft hangars…
Read MoreGovt Plans Integrated Oil City at Hub with Offshore SPM, Dual Pipelines and Bonded Storage
ISLAMABAD: The government has launched work on an ambitious plan to establish an integrated oil city at Hub, Balochistan, featuring an offshore Single Point Mooring (SPM) facility, dedicated crude oil and petroleum product pipelines, and large-scale bonded storage infrastructure. The proposed project is aimed at transforming Hub into a major petroleum logistics and trading hub while providing Pakistan with additional capacity to handle large crude oil and petroleum product vessels and reducing pressure on existing port infrastructure at Karachi and Port Qasim. According to official sources, consultancy firm Technique has…
Read MoreEnergy Prices Surge as Middle East Tensions Raise Inflation Risks Ahead of Winter
LONDON: Global oil and gas prices have surged as renewed fighting between the United States and Iran threatens energy supplies through the Persian Gulf, raising concerns over inflation, economic growth and household costs ahead of winter. European natural gas futures climbed to a three-year high, while crude oil prices moved closer to $100 a barrel as tensions around the Strait of Hormuz intensified. The escalation has also pushed European diesel and gasoline prices sharply higher, adding to inflationary pressures across the region. Brent crude futures rose to around $95 a…
Read MorePetroleum Product Sales Decline 3% YoY in August Amid Higher Fuel Prices
KARACHI: Pakistan’s petroleum product sales declined 3% year-on-year (YoY) to 1.26 million tonnes in August 2026, mainly due to a sharp increase in motor gasoline (MS) and high-speed diesel (HSD) prices, according to industry data. On a month-on-month (MoM) basis, overall sales by oil marketing companies (OMCs) fell 16% during the month. Excluding furnace oil (FO), OMC sales declined 9.3% YoY and 19% MoM. The decline came amid a significant rise in fuel prices. MS prices increased by Rs70.06 per litre YoY and Rs10.01 MoM, while HSD prices rose Rs99.73…
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