On Monday, oil prices continued their downward trend, influenced by indications of weak fuel demand and comments from U.S. Federal Reserve officials that tempered expectations of interest rate cuts, potentially slowing growth and impacting fuel demand in the world’s largest economy. Brent crude futures dipped by 25 cents, or 0.3%, reaching $82.54 a barrel by […]Read More
ISLAMABAD: With the general elections quickly approaching, there’s a chance that Pakistan’s petrol and diesel prices will rise in the upcoming fortnightly review on January 31 for the first half of February. A report claims that the caretaker government is considering raising the price of gasoline and diesel by Rs 7 per liter between January […]Read More
GAZA: As fears that the Israel-Hamas war could escalate into a larger Middle East conflict increased, the UN Relief and Works Agency for Palestine Refugees (UNRWA) announced on Sunday that it will run out of fuel in the Gaza Strip in three days. Washington also warned of a significant risk to U.S. interests in the […]Read More
According to the private news channel on Friday, the national flag carrier Pakistan International Airlines (PIA) has paid the Pakistan State Oil (PSO) Rs220 million for a two-day fuel supply. The PSO received payment for fuel for Saturday and Sunday in the amount of Rs220 million from the PIA. The airline and PSO have settled […]Read More
KARACHI: Pakistan State Oil (PSO) has resumed gasoline deliveries to Pakistan International Airlines (PIA) after receiving payment of the balance of Rs. 20 million in past-due debts. This action follows PSO’s suspension of fuel supply due to PIA’s failure to pay its daily debts. Also Read: Who is Mohammed Deif, mastermind behind the attack on […]Read More
ISLAMABAD: Pakistan State Oil (PSO) spokesperson on Friday denied all the rumours about the shortage of fuel reserves and said that there is ample stock of petroleum products in the country, private news channel reported. According to PSO’s spokesperson, the Ministry of Energy and Oil & Gas Regulatory Authority (OGRA) is monitoring the overall situation […]Read More
ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail on Thursday said the declining trend in international food and fuel prices would help bring down commodity rates in Pakistan. Addressing a press conference here, the minister said per barrel crude oil price had come down to $100 from $123. While those of edible oil and […]Read More
ISLAMABAD: Pakistan and IMF talks have failed to strike a staff-level agreement mainly because of the government’s inability to withdraw fuel and electricity subsidies. Now a deadlock persists between the two sides whereby the IMF has linked the revival of stalled $6 billion Extended Fund Facility (EFF) programme to the removal of unfunded fuel and […]Read More
COLOMBO: Sri Lanka Crisis, Sri Lanka increased fuel and transport prices on Tuesday, a long-flagged move to combat its debilitating economic crisis; but the hikes are bound to exacerbate galloping inflation, at least in the short-term. Power and Energy Minister Kanchana Wijesekera said in a message on Twitter that petrol prices would increase by 20%-24%. […]Read More
Colombo: Sri Lanka finance minister’s aide stated on Tuesday that the country had requested immediate financial assistance from the International Monetary Fund (IMF) and that the global lender could accept it after an initial reluctance. Island residents have taken to the streets to express their displeasure with the government’s handling of their finances. Also rising fuel […]Read More
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