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PIA spokesperson as saying that concessions are currently limited to children and infants, and all other fare discounts withdrawn.The move followed a high-level review of rising fuel costs and potential losses after Jet fuel (JP‑1) prices jumped signifi…
Latest fuel prices News & Updates
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5 (IANS) Traders in Pakistan have warned the government of a nationwide protest if the hike in petroleum prices is not withdrawn, while also calling for an end to the ongoing crackdown on bakers (naanbai), local media reported on Sunday.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…
Mumbai, March 28 (IANS) Addressing rising public concern amid the Iran–Israel conflict, Maharashtra Chief Minister Devendra Fadnavis on Saturday issued a stern warning against those spreading misinformation regarding fuel shortages or a potential lockdown, asserting that there is no such plan in place.“There is absolutely no plan for a lockdown,” he clarified, adding that India is well prepared to handle the current global fuel situation.He told reporters, “Some elements are intentionall…
Chandigarh, March 28 (IANS) Congress MP Manish Tewari on Saturday expressed concern over the escalating situation in the Gulf, stating that the ongoing conflict shows no signs of ending and is beginning to impact India’s economic and energy security. He stressed the need for urgent efforts to de-escalate tensions and reopen the strategically vital Strait of Hormuz. Speaking to IANS, Tewari said, “The situation is quite serious. The war in the Gulf does not seem to be ending, and it is having…
Bengaluru, March 27 (IANS) Senior BJP leader and the Leader of the Opposition R. Ashoka on Friday hit back at Karnataka Deputy Chief Minister and State Congress President D.K. Shivakumar over his criticism of fuel pricing, accusing the Congress-led state government of burdening people through repeated tax hikes on petrol and diesel. In a media statement, Ashoka said it was “ironic and laughable” that Shivakumar was speaking about rising fuel prices while the state government itself had incre…