Petrol diesel price in jk

- A + A KUALA LUMPUR (June 29): The retail prices of RON97 and RON95 petrol and diesel will remain unchanged for the week from Thursday (June 30) until July 6, the Finance Ministry said on Wednesday (June 29). In a statement, it said based on the Automatic Pricing Mechanism formula, RON97 and RON95 will remain at RM4.84 per litre and RM2.05 per litre respectively, while diesel at RM2.15 per litre. "To protect consumers from the effects of the actual rise in oil prices on the global market, the government has maintained the retail prices of RON95 petrol and diesel, although the real market prices for these two products have exceeded the set ceiling prices,” the statement said. It said the government would continue to monitor the effects of changes in world crude oil prices and take the necessary measures to continue to protect the welfare and well-being of the people. … [Read more...] about RON97, RON95 and diesel prices unchanged from June 30 to July 6

PETALING JAYA: Instead of completely removing subsidies for petrol, the government should gradually raise the price of RON95 petrol by 10 sen or 20 sen, says Datuk Seri Najib Razak. He said with many countries experiencing high inflation, it was not a suitable time to completely remove petrol subsidies. "However, the government can consider raising RON95 petrol by 10 sen or 20 sen. "But, don't touch on diesel prices when inflation rates are high now, because it correlates with the production and transportation costs which will eventually put more pressure on the inflation rate," said the former prime minister on Facebook on Wednesday (June 22). Najib also said the government should raise export duties and windfall taxes for the palm oil sector, given the high crude oil prices due to shortage in global supply. He said additional revenues from the proposals could be channelled every three months to various cash aid programmes to assist the B40 and M40 who were badly affected by … [Read more...] about Don’t totally remove fuel subsidies, but raise RON95 price gradually, says Najib

New diesel and petrol cars could be booted from one of the world’s biggest markets in 2035, if Europe follows through on plans to ban the sale of combustion engines. The EU’s countries have moved a step closer to becoming among the first in the world to ban the sale of diesel and petrol cars after the European Parliament approved a draft law on June 8 that would prohibit the sale of new carbon dioxide-emitting vehicles from 2035 onwards. If the bill enters into force it would lead to the end of combustion-engine powered cars and vans in the European Union, where some of the world’s biggest manufacturers of such cars reside. Norway meanwhile is already planning to ban the sale of internal combustion engine cars by 2025, while Britain aims to ban them by 2030, followed by hybrids in 2035. A number of car brands have announced plans to go all-electric by 2035 or sooner, among them Mercedes-Benz, Rolls-Royce, Volvo and Fiat. Others, such as Ford and VW, currently plan to continue … [Read more...] about Europe could ban new diesel and petrol cars by 2035

The supply of petrol for cars in Sri Lanka has been suspended due to the country’s greatest economic crisis in decades. Only buses, trains, ambulances, and transport needed to deliver food will be permitted to refuel over the next 2 weeks. Authorities revealed that only 9,000 tonnes of diesel and 6,000 tonnes of gasoline are available to support the nation’s critical services, and buying petrol and diesel for private cars is prohibited until July 10. Authorities have ordered 22 million people to work from home, and schools in urban areas have closed for the time being. Nathan Piper, head of oil and gas research at Investec, says Sri Lanka is the first country to take such extreme measures of suspending sales of petrol to the community, “Since the 1970’s oil crisis when fuel was rationed in the US and Europe and speed limits introduced to reduce demand.” Sri Lanka is negotiating a bailout plan since it is struggling to pay for imports like petrol and food. Furthermore, the … [Read more...] about Sri Lanka suspends sale of petrol to public for next 2 weeks

- A + A PUTRAJAYA (June 27): The government is willing to bear the projected huge subsidy totalling RM77.3 billion for this year towards stabilising the prices of goods and avoiding high inflation rates of up to 11.4%, says Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed. He said the government had a choice of removing subsidies and strengthening the country’s finances to a better level, but it chose to bear the subsidies instead for the welfare and well-being of the people. Mustapa said the announcement on June 24 by Prime Minister Datuk Seri Ismail Sabri Yaakob of no increase in the water and electricity tariffs, and the chicken price not being floated showed the government’s caring side and commitment to maintaining the subsidies. Referring to the projected consumer subsidy expenditure amounting to RM77.3 billion for 2022, he said RM51 billion of it made up the biggest component of fuel, cooking oil, electricity, water, chicken … [Read more...] about Govt continues giving subsidies to stabilise prices, avoid high inflation

- A + A PASIR SALAK (July 3): The government will look into ways and means to address the rising prices of goods and will not let the people to suffer, said Prime Minister Datuk Seri Ismail Sabri Yaakob. “(Under) The previous government, the people struggled, but we (the current government) are looking for ways so that the people are not burdened. Never in history, do we give subsidy so that prices do not rise. “The government provides subsidy of RM77.7 billion, namely for chicken, fuel, electricity, eggs, cooking oil and water. We take short, medium and long term actions to ensure the people are not burdened with the increase," he said when closing the Perak Jelajah Aspirasi Keluarga Malaysia or Malaysian Family Aspiration (AKM) Tour at at the Datuk Sagor Circuit, Kampung Gajah here. According to Finance Minister Tengku Zafrul Abdul Aziz, the government’s projected expenditure of RM77.3 billion for consumption subsidies in 2022 so far is the highest subsidy in … [Read more...] about Govt looking into ways to address rising prices of goods, will not let people suffer, says PM

"A good Rabi crop harvest is now critical for rural demand revival and, in turn, improvement in pricing power of different industries,"  Ashutosh Tiwari, Managing Director-Equities,  Equirus, said in an interview with Moneycontrol. After a significant rise in commodity prices, he feels margins are likely to remain under pressure due to commodity inflation as well as an increase in freight costs due to the rise in diesel prices, and believes that price increases by corporates will be gradual. Hence, margin normalisation will take 2-3 quarters if commodity prices stabilise, says Tiwari, who has more than a decade of experience in equity research. Edited excerpts: Do you think the Fed action going ahead will be a bigger cue than the Ukraine-Russia war now, for the equity market? The Ukraine-Russia war seems to be priced in by the market. Fed rates are likely to go up to the level of 2-2.25 percent over the next one year, driven by inflation. If there is a further increase in … [Read more...] about Daily Voice | Margin normalisation will take 2-3 quarters if commodity prices stabilise: Ashutosh Tiwari of Equirus

Share to Twitter Share to Linkedin Topline President Joe Biden proposed Wednesday a federal gas tax holiday, as gas prices hover around record highs nationally, in a move that would instantly provide some relief to consumers—though some warn may not be the cure-all Biden seeks. Key Facts Biden called on Congress to pass a three-month federal gas tax holiday, which would suspend federal taxes on gas during the period. This would make gas 18 cents cheaper per gallon and diesel 24 cents cheaper. The proposal actually comes as prices are slightly decreasing: the national average price per gallon of gas is $4.955 Wednesday, according to the American Automobile Association, a slight drop from its peak of $5.016 last Tuesday but still a sharp increase from a year ago, when it was $3.069 average per gallon. Despite the holiday likely providing some quick relief at the pump, it may contribute to further inflation by providing an indirect … [Read more...] about What Is A Federal Gas Tax Holiday? Here’s How It Could Impact Prices At The Pump.

A worker fills a vehicle with petrol at a gas station in Dubai (File image: Reuters) The Pakistan government has steeply hiked petroleum prices to implement the tough preconditions set by the International Monetary Fund (IMF) to revive the stalled USD 6 billion bailout package for the cash-strapped country. Prices of all petroleum products went up by about Rs14-19 per litre after the decision came into effect from midnight on Thursday. According to a notification issued by the finance ministry, the government imposed a Rs 10 per litre petroleum levy on petrol and Rs 5 each on high-speed diesel (HSD), kerosene and light diesel oil (LDO). As a result, the per-litre price of petrol has been increased by Rs 14.85, HSD by Rs 13.23, kerosene by Rs 18.83 and LDO by Rs 18.68. The ex-depot price of petrol now stands at Rs 248.74 per litre, HSD at Rs 276.54, kerosene at Rs 230.26, and LDO at Rs 226.15. Finance Minister Miftah Ismail told the media that the petroleum levy was … [Read more...] about Pakistan steeply hikes petroleum prices under deal with IMF to revive bailout programme

People wait in a queue after receiving tokens to buy petrol due to fuel shortage, amid the country’s economic crisis, in Colombo, Sri Lanka, June 27, 2022. REUTERS COLOMBO — Sri Lankan doctors and other medical staff as well as teachers will take to the streets on Wednesday to demand that the government solve a severe fuel shortage at the heart of the South Asian country’s worst economic crisis in decades. Weeks of street demonstrations against cascading problems including power cuts and shortages of food and medicine escalated last month when nine people were killed and about 300 were injured, leading to the resignation of the prime minister, Mahinda Rajapaksa, the older brother of President Gotabaya Rajapaksa. The government, left with only enough fuel to last about a week, on Tuesday restricted supplies to essential services, like trains, buses and the health sector, for two weeks. But doctors, nurses and other medical staff say that even though they are deemed essential … [Read more...] about ‘Impossible situation’ for Sri Lankans struggling for petrol