Prime Minister Shehbaz Sharif on Friday announced a cut of Rs12 in petrol price and Rs135 in diesel rate, citing reduction in global oil prices. In a televised address, the prime minister said the new price of petrol has been set at Rs366 per litre and diesel at Rs385 per litre, effective April 11. His…
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Oil prices resumed their push higher Tuesday as several countries pushed back against Donald Trump’s demand that they help secure the key Strait of Hormuz, while Iran continued to target crude-producing neighbours. The advances pared some of the previous day’s sharp losses that came after the head of the International Energy Agency (IEA) said more…
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Oil extended gains on Tuesday, supported by the latest oil output hike from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling oil and concerns over potential new sanctions on Russia. Eight members of the Organization of the Petroleum Exporting Countries and allies agreed on Sunday to raise production from October by 137,000 barrels…
A reduction in the prices of petroleum products is expected by the end of this week, owing to the drop in global oil prices. If confirmed, this would mark the third consecutive bi-weekly drop in prices of petroleum products. Petrol is expected to become cheaper by Rs12 per litre while the price of diesel is also…
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