Tag: HSD
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Govt expected to increase petrol price by Rs3.5 for first half of March
In a possible move that could impact consumers, the government is considering a hike in petrol prices by Rs3.5 per litre for the initial half of March 2024.
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International petrol, diesel prices drop, but no relief for Pakistanis
The government has decided not to reduce the prices of diesel and petrol for local consumers, despite a significant decrease in their international prices. This decision is intended to offset previous exchange losses and raise taxation. On February 28, 2023, the average fortnightly prices of petrol and diesel in the global market will be used…
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Petrol price likely to rise by Rs20 per litre in upcoming review
Oil industry sources report that there may be a Rs20 per litre increase in petrol prices at the upcoming review on February 15, 2023. The increase is based on calculations of the international price of petrol, specifically on a free on board (FOB) basis. During the previous fortnightly review of fuel prices, the government implemented…
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Punjab police seizes 1.3 million litres of illegally hoarded petrol in a crackdown
Pursuant to the warning issued by Petroleum Minister Dr Musadik Malik, the Punjab police initiated a crackdown against individuals engaged in the illicit stockpiling of petrol and diesel in several areas of the province, including Sheikhupura, Patoki, and Daska. The Inspector General of Punjab issued directives for strict enforcement against such practices and instructed that…
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Pakistan has enough petrol for 20 days: Musadik Malik refutes fuel shortage rumours
On Tuesday, many petrol stations in the cities of Punjab were closed, causing inconvenience for commuters searching for fuel. However, State Minister for Petroleum, Musadik Malik, refuted reports of a nationwide fuel shortage. Despite a recent increase of Rs35 per litre in petrol and diesel prices, consumers are still facing difficulties due to limited supply.…
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‘Misleading and incorrect’: OGRA rejects speculations about massive petrol price hike
The Oil and Gas Regulatory Authority (OGRA) on Saturday rubbished rumours about a whooping increase of Rs80 per litre in petrol price. “It has been observed that speculative prices of gasoline and diesel are being reported in the print and electronic media since last evening, which is misleading and incorrect,” an OGRA spokesman said in…
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Russia refuses to give Pakistan 30–40% discount on crude oil
It appears that talks with Russia came to an end without any conclusion since Moscow has refused to offer Pakistan a 30–40 per cent discount on crude oil, claiming that all volumes were committed. During the negotiations, the Pakistani group, which included State Minister for Petroleum Musadik Malik, the joint secretary, and representatives of the…
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Petrol, diesel prices to remain unchanged for the next 15 days
Despite a global decrease in oil prices, the federal government has decided to maintain the existing prices of petrol and diesel for the next 15 days. Finance Minister Ishaq Dar announced to keep the prices of petrol and high-speed diesel unchanged for the next 15 days. However, he announced a reduction of Rs10 per litre…
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Govt expected to increase petroleum levy on diesel
The government is expected to raise the petroleum levy beginning tomorrow, implying that diesel customers are unlikely to receive any relief. Finance Minister Ishaq Dar is also anticipated to maintain the oil prices for the first two weeks of December. The government now has the flexibility to raise the rate of PL on diesel, a…
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Forced stabilisation of oil prices causes oil industry to face over Rs7 billion in losses: OCAC
Maintaining oil prices for the second consecutive fortnight could harm the oil industry and disrupt petroleum products supply. The oil industry claims that it has suffered a loss of over Rs7 billion due to the government’s plan to keep oil prices artificially low. The nation’s oil industry protested against the government’s “manipulation” of the pricing…