Tag: Fuel

Fuel Prices Expected to Rise by Up to Rs8.50 per Litre

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Petrol-price

In response to international market trends, fuel prices in Pakistan are anticipated to increase significantly, with petrol and high-speed diesel (HSD) likely to rise by approximately Rs2.50 and Rs8.50 per litre, respectively, starting Monday, April 15, for the next two weeks. These adjustments come despite a reduction in import premiums and a slight strengthening of the rupee against the dollar. The surge in international market prices, including a $4 increase per barrel for petrol and $4.50 for HSD over the past fortnight, is driving these price hikes. While the import…

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Fuel price hike likely to ‘disrupt’ SBP inflation range

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petrol-price

KARACHI: The unexpected massive increase in petrol and diesel prices was widely felt as inflationary at the retail level and the State Bank of Pakistan (SBP) may have to review its decision of leaving the key interest rate unchanged. Many analysts believe that the inflation would be in the range of 30-31 per cent in the ongoing month which is against the SBP’s expectation to bring it down to 20-22pc. After keeping its policy rate unchanged at 22pc by the central bank on Sept 14, the government increased the petroleum prices by over Rs26…

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Economic update for August: Upward adjustment in energy tariffs, fuel price hike to strain inflationary pressures: MoF

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economy

ISLAMABAD: The Finance Ministry Wednesday said the upward adjustment in energy tariffs and further increase in fuel prices would strain the inflationary pressures in coming months. In its monthly, “Economic Update and Outlook” for August 2023 released on Wednesday, the Finance Ministry said the two massive fuel price hikes witnessed in August 2023 and upward adjustment in energy tariffs would strain the inflationary pressures in coming months. Inflation is anticipated to remain around 29 to 31 percent in August 2023 as the two times raise in fuel prices drives a…

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fuel oil PARCO issues fuel oil sales tender for July fuel oil

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fuel-oil

SINGAPORE: Pakistan’s Pak-Arab Refinery Limited (PARCO) has offered fuel oil for July loading in its latest tender, underlining an ongoing shift in market dynamics as the South Asian country turned to exporting instead of importing fuel oil this summer. The refinery is offering 50,000 metric tones of high sulphur fuel oil (HSFO) with maximum 3.5 percent sulphur content, for loading at Karachi port between July 15 and 17, based on its website and trade sources. The tender closes on July 5. PARCO had previously closed a HSFO sales tender in…

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