Tag: crude
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Pakistani rupee finally snaps 13-day winning streak versus US dollar
The Pakistani rupee (PKR) on Wednesday finally stopped rising against the US dollar after 13 sessions as it dropped by 0.04 per cent in the inter-bank market. It dropped nine paisas in today’s interbank market to settle at Rs217.88, depreciating by 0.04 per cent against the USD. During today’s open market session, the local currency…
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Reduction in POL prices without IMF approval is a ‘reckless’ decision, says Miftah Ismail
Pakistan’s former finance minister Miftah Ismail has called the coalition government’s decision to maintain the petroleum development levy (PDL) this month unchanged “reckless”. However, he maintained that what the earlier PTI administration did to the nation was “unforgivable.” Shaukat Tarin, the leader of the PTI and a former finance minister, had tweeted about the PMLN’s…
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Petrol price may go down by Rs7.24 to Rs230.19 per liter
According to industry projections, the ex-depot cost of petrol has declined by Rs7.24 per litre to Rs230.19 per litre for the upcoming fortnight from the current price of Rs237.43 per litre, as reported by The News. Considering recent reports, this might lead to a fall in the price of petrol by Rs7.24 per litre and…
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Petrol, diesel prices likely to go down as International oil prices fall
Due to a dramatic drop in oil rates on global markets, POL prices are expected to fall by Rs15 from October 1st. According to experts, the price of diesel could drop by Rs15 and the price of petrol could drop by Rs5 for the next two weeks, reports Geo. They stated that the new price…
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PSX witnesses recovery as KSE-100 index surpasses 41,000-mark
The week started off well for shares at the Pakistan Stock Exchange (PSX), with analysts attributing the rise to the Pakistani rupee’s robust rebound, which was supported by a drop in global oil prices. By 10:45 AM, the benchmark KSE-100 index had risen 411 points, or 1.01 per cent, to 41,031 points. The PSX had…
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Govt increases petrol price instead of decreasing, new rate stands at Rs237.43 per litre
The government officially announced the amended prices for petroleum products on Wednesday after a delay of almost a week, notifying consumers of an increase of Rs1.45 in the price of petrol. According to the notification, the price of gasoline has gone up from Rs235.98 to Rs237.43, while the price of high-speed diesel (HSD) has remained…
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Govt raises petrol price by Rs2.07 to Rs235.98 per litre
The price of petrol was raised by the government on Wednesday by Rs2.07 per litre, making it Rs235.98 for the upcoming two weeks. Additionally, it announced a hike in the costs of kerosene oil by Rs9.79 per litre to Rs201.54, high-speed diesel by Rs2.99 per litre to Rs247.43, and light diesel oil by Rs10.92 per…
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PSX resumes recovery as KSE-100 index gains 670.87 points
The KSE-100 increased for the fourth consecutive session on Friday as the rupee continued to strengthen against the US dollar, maintaining positive investor confidence at the Pakistan Stock Exchange (PSX). The price of WTI crude oil was $87.95 per barrel during the day, while Brent crude oil was being sold at $93.75 per barrel, bringing…
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Petrol price reduced by Rs18.50 per liter, Diesel by Rs40.54 per liter
In an attempt to provide relief to the masses and share the advantages of falling crude prices on the global market, the price of petrol has been slashed by Rs18.50 per liter. The price reductions for petroleum products were announced by the Prime Minister, Shehbaz Sharif, in an address to the nation. Diesel will now…
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IMF remains concerned over Pakistan’s budget 2022-23
The International Monetary Fund (IMF) has expressed concern regarding Pakistan’s newly announced budget, according to Finance Minister Miftah Ismail, however the government is convinced it can implement adjustments to appease the lender. According to Miftah Ismail, Pakistan is expecting to sign a staff-level agreement with the IMF this month. The government officially launched a Rs9.5…