Brace for Another Big Fuel Price Hike as Global Oil Rates Surge

Another massive hike expected in petroleum prices amid rise in global oil prices
Petrol price may jump by Rs16/litre, HSD by Rs13.66/litre in next fortnight
Increase caused by rupee depreciation and higher international oil prices
Some relief possible due to recent fall in dollar rate, but not enough to offset global oil price rise
Government reviews and adjusts prices every 15 days based on Ogra recommendations
Price hikes agreed with IMF under $3 billion loan program

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8/22/2023

Traders Are Betting On A Tightening Global Diesel Market

Diesel prices have surged due to lower inventories of middle distillates in the US and Europe, with hedge funds betting on higher prices amid concerns about reduced supply and increased demand. Refining margins have also strengthened as a result of tighter supply of crude and fuels.

8/28/2023

Rising diesel prices a 'hidden tax' on consumers as energy stokes inflation worries

Diesel prices in the US have reached their highest levels since March and are expected to continue rising due to refinery disruptions and increased demand during the fall agricultural harvest season and winter heating months, posing challenges for retailers and putting upward pressure on prices.

8/31/2023

Caretakers jack up petrol price by over Rs14 to take it past 300-mark

The caretaker government of Pakistan has increased petrol and diesel prices by over Rs14 due to the rising trend of petroleum prices in the international market and exchange rate variations.

9/16/2023

Pakistan Announces Steep Fuel Price Hike, Crossing Rs. 330 per Liter Mark for Petrol amid Economic Crisis

The caretaker government in Pakistan has announced a historic hike in petrol and diesel prices, with fuel costing over ₹330 per litre, further burdening the public already facing high inflation.

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Posted 9/14/2023, 3:59:00 AM