The federal government reduced fuel prices for the next fortnight, with petrol down by Rs10 per liter and high-speed diesel by Rs13.06. Kerosene prices dropped by Rs11.15, and light diesel oil by Rs12.12. Consequently, petrol now costs Rs249.10 per liter, high-speed diesel Rs249.69, kerosene Rs158.47, and light diesel oil Rs141.93.

The government has announced a slight reduction in petroleum product prices, effective September 1, 2024. Petrol has been reduced by Rs 1.86 per litre to Rs 259.10, and high-speed diesel by Rs 3.32 to Rs 262.75. Kerosene oil will now cost Rs 169.62 per litre, following a Rs 2.15 decrease, while light diesel oil will drop by Rs 2.97, setting the new price at Rs 154.05 per litre.

The National Electric Power Regulatory Authority (NEPRA) has approved K-Electric’s tariff hike request for Karachi consumers. Due to the May and June fuel adjustment, electricity prices will increase by Rs 5.75 per unit. This increase will be reflected in October and November bills. Specifically, Nepra’s notification will include an increase of Rs 2.59 per unit for the May fuel adjustment and Rs 3.17 per unit for the June adjustment.

Former Prime Minister Nawaz Sharif announced a Rs 14 per unit reduction in electricity bills for Punjab residents using up to 500 units. The relief applies to bills for August and September, as revealed during a Lahore press conference. Nawaz Sharif, with CM Maryam Nawaz, voiced concern over rising inflation and electricity costs, recalling his tenure when both were more controlled and manageable.

The federal government reduced petroleum prices as an Independence Day gift, effective from Thursday, 14th August. Petrol prices dropped by Rs 8.47, now at Rs 260.96 per litre, while high-speed diesel decreased by Rs 6.07, bringing it to Rs 266.07 per litre. This price cut aims to provide financial relief to the public during the national celebration, offering some economic respite during these challenging times.

The government has reduced petrol and diesel prices by Rs 6.17 and Rs 10.86 per liter, respectively. The new prices are Rs 269.43 for petrol and Rs 272.77 for diesel. Kerosene oil and light diesel oil prices are also reduced by Rs 6.32 and Rs 5.72 per liter, setting new prices at Rs 177.39 for kerosene oil. This price adjustment is effective for the next fortnight following approval from Prime Minister Shehbaz Sharif.

On Monday, the government announced another increase in petroleum prices, further burdening the public amid rising inflation. According to a new notification, petrol prices have been hiked by Rs 9.99 per litre, bringing the latest price to Rs 275.60 per litre. High-speed diesel has significantly increased, rising by Rs 6.18 per litre to Rs 283.63 per litre. Additionally, the price of kerosene has been increased by Rs 0.83 per litre.

The federal cabinet has raised electricity rates for commercial, agricultural, and large consumers, keeping industrial rates unchanged. Starting in July, commercial rates will increase by Rs8.04 to Rs77.15 per unit. Agricultural rates will rise by Rs6.62 to Rs46.83 per unit. General services will see a Rs6.98 increase to Rs61.03 per unit, while non-protected consumers face a Rs5.51 hike to Rs59.96 per unit.

Karachi is facing a fuel shortage because the petroleum stocks ran out due to the Pakistan Petroleum Dealers Association strike on Friday. Fuel stations in Karachi and across Pakistan were shut down from 6 AM today following the PPDA’s call. Despite the strike, sources report that the supply of petroleum products from Pakistan State Oil and other oil marketing companies’ terminals continues.

The government is expected to announce a significant reduction in petroleum prices,potentially lowering costs by up to Rs12 per litre starting June 16. This anticipated price cut is due to a $5.14 per barrel drop in global oil prices, likely translating into an Rs12 per litre decrease in petrol prices in Pakistan. Since April 16, petrol prices have already been reduced by Rs24 per litre, and diesel prices by Rs20 per litre.

In yet another burden on Karachi electricity consumers, the power tariff has jacked up by Rs10.1 per unit. According to the notification issued by NEPRA, the electricity tariff was hiked on account of monthly Fuel charge adjustments (FCA) for July 2023 to March 2024. The notification further said, additional charges will be collected from consumers in Karachi from June to September 2024.

On Friday, the federal government slashed petrol prices by Rs 4.74 per litre for the next fortnight. Following Prime Minister Shehbaz Sharif’s approval, the Finance Ministry reduced petrol prices by Rs 4.74 per litre and diesel by Rs 3.86 per litre. The new petrol price is now Rs 268.36 per litre, while the high-speed diesel (HSD) price has been decreased by Rs 3.86, making it Rs 270.94 per litre.

K-Electric on Saturday warned of cutting off electricity to Sindh government departments over unpaid dues amounting to billions ofrupees. Sources revealed that the Government of Sindh and the Karachi Water and Sewerage Board (KWSB) haven’t paid K-Electric since January. This non-payment has caused a financial crisis for K-Electric, making network maintenance difficult.

A tragic shipwreck off Italy’s southern coast killed several Pakistanis, with others missing. Over two dozen children were among the victims. Aid groups, coastguard officials, and U.N. agencies reported the incident on Monday. RESQSHIP rescued over 50 people from a sinking boat and found 10 bodies. The vessel, from Libya, carried migrants from Pakistan, Syria, Egypt, and Bangladesh.

The NEPRA will take up the CCPPA petition seeking a Rs 5 per unit hike in basic power tariff, on May 23. The electric power regulator will decide on the Central Power Purchasing Agency, which is seeking a hike in the base tariff for the FY2024-25. The increase will put an extra burden of Rs 310 billion on the power consumers. Sources say the international lender urged Islamabad to increase power, and gas prices.