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Tag Archives: petrol

PIAF welcomes Rs10b relief through cut in oil prices

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Shiekh has appreciated the caretaker government for reducing the prices of petroleum products by lowering the general sales tax on directives of the Supreme Court of Pakistan (SC). While issuing a press statement along with Senior Vice Chairman Tanvir A Sufi and Vice Chairman Shahzeb Akram, PIAF chairman said ... Read More »

Ray Paul says PNG customs in talks with major petrol supplier

PARIS: Papua New Guinea’s Customs Commissioner, Ray Paul, says there is no attempt to prevent PNG’s major petrol supplier doing business in the country. Puma Energy has reportedly warned that the country is set to run out of petrol in the coming weeks as the company winds down its supply amid negotiations with the state over 1.4 billion US dollars ... Read More »

Massive hikes in Petrol price up 3.6% next week

CAPE TOWN: The retail price of petrol will rise by 3.6%, or 47c per litre, from June 3, while wholesale diesel will go up by 4.4%, the Department of Energy says. In a statement on Friday, the department said petrol would cost R13.36 in Gauteng, while diesel would be R11.67. The government adjusts the price of fuel every month, taking ... Read More »

Massive hikes in Petrol price up 3.6% next week

CAPE TOWN: The retail price of petrol will rise by 3.6%, or 47c per litre, from June 3, while wholesale diesel will go up by 4.4%, the Department of Energy says. In a statement on Friday, the department said petrol would cost R13.36 in Gauteng, while diesel would be R11.67. The government adjusts the price of fuel every month, taking ... Read More »

Petrol up by €1.39, diesel €1.28: Labour Party points out 5th consecutive rise for fuel prices in Europe

BRUSSELS: Labour Party points out fifth consecutive rise in fuel prices across Europe while prices in Malta dropped by 7c. Statistics published by the European Commission indicate a fifth consecutive rise for prices of petrol and diesel across Europe. In a statement issued by the Labour Party, it said that the price of petrol increased by 2c (€1.39) while diesel ... Read More »

PSO’s circular debt crosses Rs200b: Petrol crisis may take 10 more days, fears Khaqan Abbasi

ISLAMABAD: Federal Minister for Petroleum Shahid Khaqan Abbasi said that it may take up to 10 days to bring the petrol supply situation to normalcy in the country as the Pakistan State Oil’s circular debt has crossed Rs200 billion mark. Cited recent slash in petroleum prices and delay in a shipment as reasons for the shortage, the minister claimed that ... Read More »

After 30% cut in int’l oil rates, OGRA slashes petrol price by Rs 9.66/ litre on Nawaz’s order

ISLAMABAD: After 30 percent cut in international oil rates, Oil and Gas Regulatory Authority (Ogra) has slasheed petrol price by Rs 9.66 per litre besides cutting prices of other petroleum products, says a notification issued on Sunday.  Standing Committee on Finance in its recent meeting has asked the CCP to play its active role in slashing of POL prices by at ... Read More »

Record 35.08% world oil fall: Pakistan’s 1st cut of Rs9.43/L to follow, settle price at Rs68/L-2014 end

ISLAMABAD: Pakistanis received good news among the piles of bad reports as Prime Minister Nawaz Sharif announced reduction in petroleum prices on October 31 by Rs9.43 per litre but the news was not good enough in the wake of declining world oil prices. As per analysts, Brent crude is expected to trade as low as $74/barrel within 2014 after a ... Read More »

Govt to take down petrol price to Rs68/litre by end-Dec?

ISLAMABAD: Pakistanis received good news among the piles of bad reports as Prime Minister Nawaz Sharif announced reduction in petroleum prices on October 31 by Rs9.43 per litre but the news was not good enough in the wake of declining world oil prices. Brent crude is expected to trade as low as $74/barrel within 2014 after a relentless slide from ... Read More »

SPI WoW inflation up 0.26% in 17 urban for 53 items despite record decrease in POL by Rs9.43

ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended on November 13, for the combined group increased by 0.26 per cent as compared to the previous week despite record cut in POL prices by Rs 9.43/litre. According to Pakistan Bureau of Statistics (PBS) data, the SPI for the week under review in the above mentioned group was recorded at ... Read More »

FC seizes 45,000 litres Iranian diesel, petrol

LAHORE: The Frontier Corps Quetta Monday recovered thousands of litres of smuggled Iranian diesel and petrol from two separate areas here. Sources said about 30,000 litres of smuggled Iranian diesel and 15,000 litres of petrol were recovered by the FC personnel. No arrest was reported Read More »

Inflation of 0.39% to 0.36% YOY for 53 items in 17 urban centres as record Rs14.68 POL price cut

ISLAMABAD: Pakistan Bureau of Statistics (PBS) has issued the Sensitive Price Indicator (SPI) for the week ended on November 6 for the lowest income group up to Rs8,000, which showed decrease from 0.39pc to 36pc. The SPI for the week under review in the above mentioned group was recorded at 207.19 points against 207.28 points registered in the previous week. ... Read More »

10% cut in transport fares to reduce prices of food items: Bilal Yasin

LAHORE: Provincial Minister for Food Bilal Yasin has said that due to the implementation on the eight to ten percent reduction in transport fares, not only fares in transportation of goods will reduce but the prices of essential items will also decrease considerably. He said that the process of monitoring of transport fares and petrol prices should be continued so ... Read More »

CM Shahbaz orders implementation of Rs9.43/ltr cut in petrol price

LAHORE: Punjab Chief Minister Mian Muhammad Shahbaz Sharif has directed to adopt a comprehensive strategy to transfer the effects of lowering of petroleum products prices to the public. In a statement issued in Lahore on Saturday, he said that this lowering of prices should also have an impact over the prices of daily use items. He directed to ensure the ... Read More »

PM Nawaz asks CMs to ensure cut in transport fares, food prices

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif has directed chief ministers to ensure that the impact of reduction in petroleum prices reach the common man. Chairing cabinet meeting in Islamabad, he directed the provincial governments to keep a check on transport fares and on prices of basic commodities. He said reduction in the prices of petroleum products has been made possible ... Read More »

Petrol pumps crush PM’s order, start selling petrol at Rs110/ltr

LAHORE: Petrol pump owners across Punjab have refused Rs 9.43 per litre cut in petrol price and closed down their petrol pumps on Saturday against Prime Minister Nawaz Sharif’s decision. Motorists and other vehicles owners are facing severe difficulties in different cities of Punjab including Lahore, Faisalabad, Multan, Bahawalpur and Sialkot due to petrol pump owners shutting down of their ... Read More »

PM Nawaz slashes petrol price up to Rs9.43/ltr

ISLAMABAD: Pakistanis finally received good news among the piles of bad reports especially of increasing inflation as Prime Minister Nawaz Sharif Friday announced reduction in petroleum prices by Rs9.43 per litre. Customs Today has another feather in its cap as this leading community newspaper was first to break this news of reduction in petroleum, oil & lubricant (POL) prices before ... Read More »

PM Nawaz gives relief to masses with Rs9.43/ltr cut on POL prices

ISLAMABAD: Pakistanis finally received good news among the piles of bad reports especially of increasing inflation as Prime Minister Nawaz Sharif Friday announced reduction in petroleum prices by Rs9.43 per litre. Customs Today has another feather in its cap as this leading community newspaper was first to break this news of reduction in petroleum, oil & lubricant (POL) prices before ... Read More »

Midday: 133pts gain keeps KSE above 30,000 level

KARACHI: The Karachi Stock Exchange (KSE) 100-index Thursday maintained positive note of early trading amid reports that the government is going to slash petroleum prices by Rs14 per litre. Benchmark KSE 100-index gained 133.43 points to reach 30246.67 points with the total volume of 42,072,860 shares till midday. Earlier, the country’s biggest stock market started with positive note, recouping two ... Read More »

Mercedes B-Class EV to beat BMW i3 in price with £27,000 tag

LONDON: Mercedes will charge £1,500 more for its B-Class Electric Drive than BMW’s quirky-looking i3. The company has said that due to be launched in the UK next year, the 100 per cent electric premium MPV will be the first car to use the company’s new technology. The newcomer will cost £27,000 after the £5,000 Government grant and Mercedes will ... Read More »