Fuel consumption in the United Kingdom has recorded its steepest decline in six years as rising energy prices linked to the US-Iran conflict continue to pressure households. Motorists have reduced travel and fuel usage as costs surge across transport and essential goods markets. According to official data released on May 22, petrol and diesel sales […]
energy crisis
Pakistan raises LNG prices by up to 28%
The government has increased liquefied natural gas (LNG) prices in Pakistan by up to 28 per cent for the month of May, according to an official notification issued on Thursday. Read More: Pakistan gets two LNG cargos from Qatar in a week The revision applies to both major distribution systems, with the new rates reflecting a significant […]
Pakistan raises petroleum prices above Rs400 per litre
Pakistan has announced a sharp increase in petroleum prices, pushing both petrol and high-speed diesel above Rs400 per litre for the first time, triggering concerns over inflation and rising transport costs across the country. According to an official notification issued by the government, petrol prices were increased by Rs14.92 per litre, while diesel saw an […]
Super El Nino threat adds pressure on Asia
Asian countries already facing economic and energy challenges linked to Middle East instability are now preparing for the possible arrival of a strong El Nino weather event that could worsen regional pressures. Read More: Super El Nino threat raises flood fears across Pakistan The United Nations’ weather agency has warned that El Nino conditions may develop […]
Russia says OPEC+ steady after UAE exit
Russia said the OPEC+ group will continue operating despite the UAE’s exit, easing fears of disruption. Deputy Prime Minister Alexander Novak ruled out an oil price war, citing a global supply deficit. The development matters for energy markets, as producers and consumers face ongoing volatility. Speaking to Russian media, Novak stressed that cooperation among major […]
LNG prices spike as supply route disruption hits Pakistan
Pakistan has been forced into a high-cost liquefied natural gas (LNG) purchase after disruptions linked to the Strait of Hormuz tightened global supply routes. State-run Pakistan LNG Limited approved a revised bid of $18.4 per mmBtu from TotalEnergies for delivery between April 27 and 30. Read More: Pakistan Moves to Secure LNG via Immediate Spot Purchase The deal comes […]
Pakistan LNG Limited has issued its first spot liquefied natural gas (LNG) tender since December 2023
Pakistan LNG Limited has issued its first spot liquefied natural gas (LNG) tender since December 2023, as the country moves to address fuel shortages and stabilise electricity supply amid global market disruptions. Read More: Azerbaijan says ready to supply LNG to Pakistan amid energy crunch The tender seeks three LNG cargoes of around 140,000 cubic metres each, scheduled for […]
Pakistan cuts diesel price by Rs 32.12 per liter after Hormuz reopening
The government of Pakistan has announced a significant reduction in diesel price, lowering the rate by Rs 32.12 per litre following improved global oil supply conditions after the reopening of the Strait of Hormuz. Read More: Govt slashes petrol price by Rs 12 per litre, diesel by Rs 135 According to official figures, the price of diesel has dropped […]
US tightens sanctions on Iran’s oil sector amid escalating tensions
The United States (US) has announced fresh sanctions targeting Iran’s oil industry, intensifying economic pressure as tensions in the Middle East continue to rise, the Treasury Department said on Wednesday. Read More: US hits Iran with new oil and shipping sanctions According to the announcement, the new measures target more than two dozen individuals, companies, and vessels linked to a major […]
Oil Companies warn diesel pricing issues may disrupt supply chain
The Oil Companies Advisory Council (Oil Companies Advisory Council) has raised serious concerns over recent changes in the pricing formula for high-speed diesel and delays in payments, warning that these issues could threaten the country’s fuel supply system. Read More: Pakistan OMCs set for windfall gains as ME tensions drive fuel price surge In a detailed […]