Page 8 - Fuel Prices

Petrol prices in Pakistan rise by PKR 60 in a week, hit record levels

The prices of petroleum products in Pakistan have risen by a massive PKR 60 per litre in about a week taking them to record levels

Why Congress-ruled states aren't reducing fuel prices, asks Irani

Union minister Smriti Irani on Saturday questioned why the Congress-ruled states have not been reducing fuel prices further after the Union Government gave relief to consumers last month.

Fuel retailers talking of under-recoveries on petrol, diesel: Puri

With fuel prices remaining unchanged for almost two months despite a rise in cost, oil companies have started detailing under-recoveries or losses, which are as high as Rs 17.1 per litre on petrol

Freight rates in May fall but transporters defer fleet expansion plans

Customers pay less after six months for but transport companies feel the pinch of inflation.

Pakistan inflation climbs to 13.8% in May on rising food and fuel prices

Food prices surged 17.3%, while transport costs surged 31.8%, the data showed

Rising energy prices leave Australia's smaller energy suppliers out in cold

As Australia heads into winter and people switch on their heating, energy costs have spiked due to surging demand, leaving smaller electricity retailers unable to weather price shocks

Petrol pump dealers not to buy from OMCs today to demand higher commission

Petrol Pump Dealers Association said its members in 22 states will join the protest

States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI

States gained Rs 49,229 crore from VAT revenue on fuel when oil prices were increasing and will forego Rs 15,021 crore now that excise duty on fuel has been cut, SBI Research said in a report

TN fuel outlets won't buy from OMCs on May 31 in protest against centre

Tamil Nadu Petroleum Dealers Association in a statement said that the reduction in the fuel prices by the Central government led to dealers losing Rs 3 lakh to Rs 15 lakh

Pak PM Sharif announces new relief package for low-income segment

Pakistan PM Shahbaz Sharif has announced a new relief package worth 28 billion PKR ($140 million) per month to mitigate the impact of the increase in the prices of petroleum products

Fuel price hike was necessary to avoid bankruptcy, says Pak PM Shehbaz

Pakistan PM Shehbaz Sharif said his government's move to increase fuel prices was necessary to avoid the country from facing bankruptcy

Pakistan raises fuel prices to meet key condition for IMF bailout

Pakistan raised the cost of gasoline and diesel by 30 rupees a liter each, Finance Minister Miftah Ismail said in a Twitter post

Pakistan govt caves in to IMF, petrol prices increase by one fourth

The Pakistan government increased the rate of petroleum products by 30 PKR per litre, or up to one-fourth of their existing prices, paving the way for reaching a staff-level agreement with IMF

BPCL Q4 net profit declines 82% to Rs 2,131 cr; revenue rises 25%

BPCL and other public sector oil companies held petrol and diesel prices for a record duration despite a surge in the cost of raw materials (crude oil) to a 14-year high

IndiGo slips into losses due to exchange rate and higher fuel price

The airline will deploy 60% more capacity in FY23 than in FY22 when it had to curtail operations in April due to surge of Delta variant and in Dec-Jan due to Omicron

India's retirees tap savings, cut down expenses as living costs soar

Sharply rising prices are hitting older people the world over as global supply problems caused by the pandemic -- and made worse by the Ukraine war -- propel food and fuel costs higher

Sri Lanka hikes fuel prices; petrol at all-time high of Rs 420 per litre

Sri Lanka raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves

Analysts bullish on auto stocks amid govt. measures on fuel, steel price

At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices

Petrol under-recovery at Rs 13, diesel Rs 24; RIL-BP says ops unsustainable

Two sources aware of the matter said Reliance BP Mobility Ltd contends that PSU oil marketing companies control over 90% of the market and are the price-setters

Oil prices firm on weak dollar, tight supply as US driving season looms

"Oil prices are supported as gasoline markets remain tight amid solid demand heading into the peak U.S. driving season," said SPI Asset Management Managing Partner Stephen Innes