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Tag: high speed diesel

  • Petrol price increased to all-time high at Rs123.30/liter

    Petrol price increased to all-time high at Rs123.30/liter

    ISLAMABAD: The price of motor spirit (petrol) has been increased to all-time high at Rs123.30 per liter and will take effect from September 16, 2021.

    The Finance Division on Wednesday issued the rates of petroleum products for the next fortnight. The government has increased the prices of all petroleum products for the next 15 days.

    The government has increased the prices owing to fluctuations in petroleum prices in the international market and exchange rate variation.

    Following are the rates of petroleum products, which will take effect from September 16, 2021:

    The rate of petrol has been increased by Rs5 to Rs123.30 per liter from Rs118.30.

    The rate of high-speed diesel has been increased by Rs5.01 to Rs120.04 per liter from Rs115.03.

    The rate of kerosene oil has been increased by Rs5.46 to Rs92.26 per liter from Rs86.80.

    The rate of light diesel oil has been increased by Rs5.92 to Rs90.69 from Rs84.77.

    Prices of all petroleum products reduced
  • Prices of all petroleum products reduced

    Prices of all petroleum products reduced

    ISLAMABAD: The federal government on Tuesday announced a reduction in prices of all petroleum products for next fortnight.

    A statement issued by the Finance Division the new reduced prices will take effect from September 01, 2021.

    According to the notification the price of petrol has been reduced by Rs1.50 to Rs118.30 per liter from Rs119.80.

    The price of high speed diesel (HSD) has been reduced by Rs1.50 to Rs115.03 per liter from Rs116.53.

    Similarly, the rate of kerosene oil has been reduced by Rs1.50 to Rs86.80 per liter from Rs88.30.

    The price of light diesel has been reduced by one rupee to Rs84.77 per liter from Rs85.77.

    The statement issued by the finance division said that despite international price fluctuation in petroleum products and anticipated increase in future prices, the government has reduced the price in order to provide maximum relief to the consumer.

    The government is firmly committed to ensure stability in prices of essential commodities and has sustained the price pressure in line with its commitment to the common man.

    It is pertinent to mention that petroleum levy is kept at minimum which is a clear reflection that the government is fully cognizant of the impact of fuel prices on the prices of basic items that affect people directly.

  • Diesel oil price hiked by Rs4/liter

    Diesel oil price hiked by Rs4/liter

    ISLAMABAD: The government has increase the price of high speed diesel oil by Rs4 per liter. The prices of other POL products have been kept unchanged for next fortnight with effect from December 01, 2020, a statement said on Monday.

    The government in its endeavor to provide maximum relief to the public has decided to absorb most of the increase in international prices of petroleum products, the statement said.

    The prices of MS (Petrol), Kerosene (SKO) and Light Diesel Oil would remain the same w.e.f. 01 December 2020 for the next fifteen days.

    However, due to significant increase in the international price of High Speed Diesel (HSD), the price of High Speed Diesel has been increased by Rs. 4.00 per liter for the same period.

    The price of high speed diesel has been increased to Rs105.43 per liter from Rs104.43.

    The prices of MS (Petrol) at Rs100.69; Kerosene (SKO) at Rs65.29, ant Light Diesel Oil at Rs62.86 have been kept unchanged for next fortnight.

    POL prices increased up to Rs3.10/liter
  • Oil consumption falls by 40pc during coronavirus lockdown

    Oil consumption falls by 40pc during coronavirus lockdown

    KARACHI: The oil consumption during last 15 days of the current month has declined by an average 40 percent due to lockdown to control outbreak of coronavirus.

    Analysts at Topline Securities said that the oil consumption has declined to 26,000 tons/day compared to average consumption of 46,000 tons/day, which is due to the lockdowns announced by the provinces to control the outbreak of Covid-19.

    Due to Covid-19 outbreak, Oil sales for March-2020 are expected to decline by 33 percent YoY (and 5 percent MoM) largely driven by declines in High Speed Diesel (HSD) and Furnace Oil (FO) volumes of 31 percent YoY and 62 percent YoY, respectively.

    Ex-FO performance did not fare well either as 29 percent YoY decline is likely. The slight uptick in FO volumes witnessed in Jan-2020 has quickly disappeared with declines of 33 percent MoM and 51 percent MoM in Feb-2020 and Mar-2020, respectively.

    During 9MFY20, overall volumes went down by 13 percent YoY (ex FO 8 percent) due to overall economic slowdown and impact of Covid-19.

    PSO sales are likely to decline the most by 46 percent YoY. FO volumes are expected to decline by 88 percent YoY, HSD volumes by 34 percent YoY and MS volumes by 18 percent YoY.

    HASCOL volumes are likely to decline by 35 percent YoY, but are expected to improve by 11 percent MoM.

    APL and SHEL volumes are expected to decline by 30 percent YoY and 28 percent YoY, respectively during the month.

  • Domestic oil sales fall by 14% on economic slowdown

    Domestic oil sales fall by 14% on economic slowdown

    KARACHI: The domestic oil sales have declined by 14 percent during July – February 2019/2020 due to economic slowdown.

    According to statistics by Oil Companies Advisory Committee (OCAC), the domestic oil sales fell to 11.24 million tons during first eight months of current fiscal year as compared with 13.1 million tons in the corresponding period of the last fiscal year.

    Analysts at Topline Securities said that the lower consumption was largely attributed to economic slowdown.

    The sales of motor spirit (petrol) were flat at 5 million tons during the period under review. However, sales of furnace oil and high speed diesel fell by 33 percent and 14 percent respectively.

    The analysts said that oil sale for Feb 2020 was decline by 26 percent YoY largely driven by a decline in HSD and FO volumes.

    In absolute terms the decline was of 221,000 tons in HSD (-37 percent YoY). The lower consumption is largely attributed to the economic slowdown.

    Ex-FO performance did not fare well as 26 percent YoY and 15 percent MoM decline is expected.

    The slight uptick in FO volumes was witnessed in last month (Jan 2020) at the behest of a significant price decline. Since then FO prices have witnessed a gradual recovery.

    HASCOL remained the top laggard with decline in volumes by 61 percent and 33 percent YoY and MoM, respectively.

    Market share of the company in MS/HSD has declined by 430bps/810bps YoY. Similarly on MoM basis, market share is down by 160bps/250bps.

    APL has gained market share in HSD and MS both by 390bps and 120bps MoM to 13.2 percent and 10.1 percent respectively.

    PSO’s share in MS declined by 2.4 percent to settle at 35.4 percent. SHEL managed to maintain its market share at 11.7 percent mark in MS their main segment.

  • Customs seizes huge quantity smuggled diesel oil in deep sea operation

    Customs seizes huge quantity smuggled diesel oil in deep sea operation

    KARACHI: Customs authorities have foiled an attempt to smuggle large quantity of Iranian diesel oil into Pakistan, officials said on Thursday.

    The officials said that Pakistan Customs Preventive Marine Section had conducted an operation against smugglers near Gwadar.

    The customs authorities intercepted two boats in deep waters for search, which resulted in discovery of 22,000 liters of Iranian diesel oil, which was meant to smuggle into Pakistan.

    The total value of diesel oil has been estimated at Rs2.1 million.

    The customs authorities seized the diesel oil as well as both the boats. The value of seized boats has been estimated at Rs30 million.

    The preventive officials said around 32.1 million worth diesel oil and boats were seized in the operation.

  • Auction of confiscated diesel oil, heavy motor cycles on Sept 17 at Sukkur

    Auction of confiscated diesel oil, heavy motor cycles on Sept 17 at Sukkur

    KARACHI: Pakistan Customs has announced auction of confiscated high speed diesel oil and heavy motor cycles on September 17, 2019 lying at State Ware House, Sukkur.

    The customs authorities announced to auction of 250,280 liters confiscated high speed diesel oil, which is available in 15 different lots.

    The authorities also announced the auction of following heavy motor cycles and dismantled motor vehicles:

    01. Honda Sports Motor Cycle 1137CC Model 2004

    02. HYONSUNG heavy motor cycle 250CC Model 2007 (Made in USA)

    03. SUZUKI Heavy Motor Cycle GSX-R1000 (Made in Japan) 1000CC, Model 2017

    04. KAWASAKI Heavy Motor Cycle 399CC Model 2010

    05. YAMAHA Heavy Motor Cycle 649CC Model 2003 (Made in Japan)

    06. Suzuki Scooty Model 2002

    07. Mitsubishi Pajero Jeep (Dismantled)

    08. Toyota Hiroof Vagan (Dismantled)

    09. Honda Scooty Motor Cycle Model 2004 (02)

    10. Suzuki Scooty (02)

    11. Different parts of Suzuki Sierra Jimmy Jeep.

    12. HARLEY DAVIDSON (Japan) Heavy Motor Cycle

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  • Nominal reduction in petroleum prices announced

    Nominal reduction in petroleum prices announced

    The government of Pakistan has decided to implement slight adjustments in the prices of petroleum products for the month of February 2019.

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