Category: Popular News

Diesel Price Slashed by Rs2, Petrol Unchanged as Govt Raises Freight Margin to Offset Industry Losses

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Asia-diesel

ISLAMABAD, May 16 – In a late-night announcement, the government reduced the price of high-speed diesel (HSD) by Rs2 per litre to Rs254.64 for the current fortnight ending May 31, while keeping the petrol price unchanged at Rs252.63 per litre. This marks the third time in two months that the government has not fully passed on the impact of declining global oil prices to consumers. The move comes alongside a hike in the Inland Freight Equalisation Margin (IFEM) on both petrol and diesel, aimed at recovering Rs34 billion in industry…

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Oil Industry Ensures Jet Fuel Supply, Emergency Preparedness Amid Pakistan-India Tensions: OCAC

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Oil falls

KARACHI: Amid heightened tensions between Pakistan and India, the country’s oil sector activated emergency response protocols to ensure uninterrupted supplies of JP8 jet fuel and maintain national energy security, the Oil Companies Advisory Council (OCAC) revealed in a communication to authorities. In a letter to the Director General (Oil), Petroleum Division, and the Chairperson of the Oil and Gas Regulatory Authority (Ogra), OCAC outlined the proactive measures undertaken by the industry to safeguard critical petroleum supplies and infrastructure during the sensitive period. OCAC highlighted that, in light of the prevailing…

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Pakistan-India Talks Likely in Saudi Arabia with US, Saudi Mediation

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pak-ind

ISLAMABAD: Diplomatic sources have revealed that Pakistan and India are expected to engage in high-level talks in Saudi Arabia, with mediation by the United States and Saudi Arabia. The discussions are likely to focus on the long-standing Kashmir dispute and the Indus Waters Treaty (IWT) — two of the most contentious issues between the nuclear-armed neighbors. This initiative comes amid renewed efforts led by US President Donald Trump and Secretary of State Marco Rubio, who recently facilitated a preliminary agreement to resume dialogue following heightened tensions between the two countries.…

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ECC Approves Shifting Rs4.12/Litre Relief in Fuel Prices to Oil Sector Stakeholders

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Oil falls

ISLAMABAD: The Economic Coordination Committee (ECC) has approved a plan to redirect the relief of Rs4.12 per litre in petrol and high-speed diesel (HSD) prices to oil refineries, oil marketing companies (OMCs), and fuel dealers, starting from May 16, 2025, for a period of one year. In a meeting held on May 13, 2025, the ECC decided that this adjustment—meant to support stakeholders amid financial challenges—will be implemented through increases in the Internal Freight Equalisation Margin (IFEM), OMCs’ margin, and dealers’ commission. As a result, consumers will bear an additional…

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Government Proposes Dual Pricing Model for Petroleum Products to Encourage Digital Payments

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Petrol-Diesel

Islamabad, May 14, 2025 — In a bid to promote digital transactions and curb fuel smuggling, the government is considering a dual pricing model for petroleum products across the country. Under the proposed scheme, consumers would be offered a PKR 5 per liter discount when purchasing petrol or diesel through digital payment methods. As per initial details, the model would set two price tiers for POL (Petroleum, Oil, and Lubricants) products: The price differential will be achieved by reducing the Petroleum Levy (PL) on digital transactions, allowing the government to…

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