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(Bloomberg) -- Pakistan’s government increased local fuel prices from Friday to meet a key condition set by the International Monetary Fund for reviving its bailout program after talks with the ...
The Pakistani government is looking to tame inflation with fuel price cuts and a price-control mechanism, caretaker Prime Minister Anwaar ul Haq Kakar said on Monday. The South Asian country is ...
The Inland Freight Equalization Margin (IFEM) is a regulatory measure implemented in Pakistan to equalize the price of petroleum products across different regions of the country. [ 1 ] [ 2 ] It includes the costs for refineries to transport crude oil from its source to their facilities, as well as the expenses for Oil Marketing Companies (OMCs ...
Pakistan has experienced an economic crisis as part of the 2022 political unrest. It has caused severe economic challenges for months due to which food, gas and oil prices have risen. As of 1 January 2025 Pakistan inflation rate was 4.1% lowest in 6.75 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Inter State Gas Systems (Private) Limited (ISGS) was established in 1996 as a private limited company. In order to meet the growing energy deficit in the country, the Government of Pakistan (GOP), besides encouraging local exploration and production, plans to import natural gas from across its borders from Iran and Turkmenistan.
Fuel pump operators across Pakistan are to hold a nationwide strike on July 22 in a bid to secure larger margins amid an inflation crisis, the Pakistan Petroleum Dealers Association said on Thursday.
Pakistan's gas fields are only expected to last for about another 20 years at the most due to heavy industrial usage. [10] [11] The Sui gas field is the biggest natural gas field in Pakistan. It is located near Sui in Balochistan. The gas field was discovered in the late 1952 and the commercial exploitation of the field began in 1955.