Petrol and diesel prices in Pakistan are expected to decrease in the upcoming pricing review after a noticeable decline in global oil markets raised hopes of relief for consumers. Market sources indicated that falling international petroleum rates could lower local fuel prices if the government avoids imposing additional levies or taxes during the next adjustment […]
oil market
Kerosene price raised as petrol, diesel stay unchanged
KARACHI – The federal government has increased the price of kerosene oil by Rs4.66 per litre, taking it to Rs433.40 per litre, effective March 28, according to a notification issued by the Petroleum Division. Read More: Pakistan raises fuel prices sharply as Middle East war shakes oil Despite rising global oil prices, the government decided to keep […]
Global commodity prices to hit six-year low by 2026: World Bank
ISLAMABAD — Global commodity prices are expected to fall to their lowest level in six years by 2026, marking the fourth consecutive annual decline, according to the latest Commodity Markets Outlook released by the World Bank. The report projects a seven per cent drop in prices in both 2025 and 2026, driven by weak global […]
OPEC+ panel keeps policy unchanged against backdrop of stronger oil market
DUBAI/LONDON, Aug 4 (Reuters) – An OPEC+ ministerial panel which met on Friday made no changes to the group’s current oil output policy after a Saudi decision to extend its voluntary production cut into September helped oil prices rally further. The panel, called the Joint Ministerial Monitoring Committee, can call for a full meeting of […]
Oil Sales increase by 14 percent YoY in May
Sales’ volumes of oil marketing companies (OMC) continued on a growth trajectory with an increase of 14 percent YoY for May’21 due to a strong rebound post COVID-19 related economic slowdown at 1.7 million tons, while sequentially, volumes grew by 1 percent MoM despite extended Eid holidays during May’21. Shahrukh Saleem, a senior analyst at […]