Phnom Penh, April 18 (IANS) Retail fuel prices in Cambodia have dropped further after Iran declared the opening of the Strait of Hormuz, the Ministry of Commerce said. In an announcement late on Friday (local time), the ministry said a litre of regular gasoline is now priced at 4,950 riels (1.24 US dollars) from this Saturday until the next notice, down 2.9 per cent from 5,100 riels (1.28 dollars) in the last three days.Diesel now costs 5,700 riels (1.42 dollars) per litre, down 10.9 per cent, t…
Latest fuel prices News & Updates
Washington, April 16 (IANS) The Trump administration has linked the outlook for US fuel prices to developments in the Iran conflict, saying a sustained drop in gasoline costs will depend on the reopening of the Strait of Hormuz and progress in ongoing negotiations. Treasury Secretary Scott Bessent told reporters at a White House news conference on Wednesday (local time) that the timing of lower gas prices remained uncertain, citing disruptions in global oil flows linked to tensions involving Ira…
New Delhi, April 12 (IANS) Pakistan is once again grappling with rising inflation as escalating tensions in the Middle East, particularly the Israel-US conflict with Iran, begin to ripple through its economy, a report has said. The surge in global energy prices has pushed the country’s inflation back into double-digit territory, with the Sensitive Price Indicator (SPI) climbing 12.15 per cent year-on-year (YoY), marking a 74-week high, The Express Tribune report said.According to analysts at T…
New Delhi, April 8 (IANS) Pakistan International Airlines (PIA) has scrapped most passenger discounts and cut flight frequencies as rise in jet fuel prices squeezed the air carrier’s finances, a new report has said.Pakistan-based Dawn cited a PIA spokesperson as saying that concessions are currently limited to children and infants, and all other fare discounts withdrawn.The move followed a high-level review of rising fuel costs and potential losses after Jet fuel (JP‑1) prices jumped signifi…
New Delhi, April 6 (IANS) Pakistan’s decision to raise petrol prices to Rs 458.40 per litre, with a petroleum levy of Rs 161 per litre, risks “a structural shock on an already fragile economy,” a new report has said.The report from Business Recorder said that the hike necessary under the constraints of the IMF programme will pass through supply chains, inflating input costs, compressing margins, and ultimately dampening output.The hike also aims to mobilise revenue after the administration mis…
Islamabad, April 6 (IANS) Residents in Peshawar and other parts of Pakistan’s Khyber Pakhtunkhwa have been facing difficulties due to acute shortage of natural gas as CNG stations remained shut across the province, local media reported on Monday. Majority of school van and bus operators have suspended their services due to unavailability of CNG while public transporters have increased fares after they started using petrol, placing further financial burden on residents, Pakistan’s leading daily ‘…
New Delhi, April 6 (IANS) Saudi Arabia on Monday increased the price of its flagship crude as state-owned Saudi Aramco has set the official selling price of its Arab Light crude for May shipments at a record premium of $19.50 per barrel over the regional benchmark for Asian buyers.The steep hike comes as energy flows through the Strait of Hormuz face severe disruptions, according to reports.The move follows heightened tensions linked to the ongoing conflict involving the US, Israel, and Iran, wh…
Islamabad, April 5 (IANS) Traders in Pakistan have warned the government of a nationwide protest if the hike in petroleum prices is not withdrawn, while also calling for an end to the ongoing crackdown on bakers (naanbai), local media reported on Sunday. While addressing a press conference at the National Press Club, All Pakistan Anjuman-i-Tajran President Ajmal Baloch stated traders cannot be called “thieves and robbers”, stressing that the business community was the backbone of Pakistan’s econ…
Islamabad, April 3 (IANS) Pakistan’s Human Rights Council (HRC) on Friday strongly criticised the government’s steep increase in petrol and diesel prices, warning that the move would further burden citizens already grappling with rising inflation and economic hardship.According to the rights body, the decision to take petroleum products to their historical highest levels comes at a time when the public is already grappling with severe inflation and economic pressure, raising fears that the p…
Islamabad, April 3 (IANS) The Pakistan government has announced a sharp increase in fuel prices, with petrol rising by 43 per cent and high-speed diesel (HSD) by 55 per cent, according to local media reports. The price of petrol has been raised by Pakistani Rupees (PKR) 137.23 per litre from PKR 321.17 to PKR 458.41 while price of HSD has been increased by PKR 184.49 per litre from PKR 335.86 to PKR 520.35, Pakistan’s leading daily Dawn reported. The price of kerosene has been raised by PKR 34.0…