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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. ... October 16, 2023 at 10:34 ...
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 24 November 2024 Pakistan inflation rate was 4.9% lowest in 6.5 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
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 ...
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [14] Since October 10, 2022, the price of gasoline has gone down again.
The Largest Gas Producing province of Pakistan is Baluchistan. The Sui gas field is the biggest natural gas field in Pakistan. It is near Sui in Balochistan. The gas field was discovered in the late 1952 and the commercial exploitation of the field began in 1955. Sui gas field accounts for 6% of Pakistan's gas production. [14]
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
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.
* Global primary energy demand rose by 2% in 2023 from 2022,to 620 EJ. * Fossil fuel use rose 1.5% to 505 EJ, which accounted for81.5% of the overall energy mix, down by 0.5% from 2022. * Fossil ...