Commodities Archives - The Financial Daily

Fuel Prices in Pakistan Expected to Drop from October 16 Amid Global Oil Trend

TFD — Tue, 14 Oct 2025 07:19:19 +0000

ISLAMABAD: Fuel prices in Pakistan are expected to decrease from October 16, as falling international oil prices create room for domestic relief, sources told ARY News on Tuesday.

According to initial estimates, the price of petrol may be reduced by Rs6.10 per litre, while high-speed diesel (HSD) could see a decrease of Rs0.97 per litre. Similarly, kerosene oil may drop by Rs2.75 per litre, and light diesel oil is likely to become cheaper by Rs1.64 per litre.

The Oil and Gas Regulatory Authority (OGRA) has prepared the initial pricing calculations based on international market trends and is expected to submit its final summary to the Petroleum Division tomorrow.

Final Approval to Be Granted by Prime Minister

Once the Petroleum Division reviews OGRA’s summary, the proposal will be forwarded to the Ministry of Finance (Pakistan) and subsequently to the prime minister for final approval.

If approved, the new prices will be implemented from October 16, providing much-needed relief to consumers already burdened by inflationary pressures.

Recent Price Trends

Earlier, on October 1, the government increased petrol and diesel prices for the fortnight. The petrol price rose by Rs4.07 per litre, while high-speed diesel was increased by Rs4.04 per litre, according to a notification issued by the Finance Ministry.

Meanwhile, OGRA announced a reduction in liquefied petroleum gas (LPG) prices for the month of October. The price of a domestic LPG cylinder was slashed by Rs79.14, bringing it down from Rs2,527 to Rs2,448.

Global Oil Prices Influencing Domestic Rates

Pakistan’s fuel price adjustments are directly linked to fluctuations in the international oil market. The current downward trend is expected to offer some short-term relief at the pump, although future revisions will depend on global price movements and currency exchange rates.

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Gold Price in Pakistan Hits Record Rs 431,800 per Tola — Investors Turn to Safe Haven as Markets Slide

TFD — Mon, 13 Oct 2025 09:01:45 +0000

KARACHI: The price of 24-karat gold in Pakistan surged to a record Rs 431,800 per tola on Monday, reflecting growing investor demand for safe-haven assets amid financial market turbulence and a weakening rupee. According to market data, the price of 10 grams of 24-karat gold reached Rs 370,210, while 1 gram was being sold at Rs 37,021.

Bullion traders said the sharp rise was driven by global gold rallies, currency pressure, and heightened local demand. “People are moving their money from stocks and cash into gold due to uncertainty,” a leading jeweller in Karachi said.

The Pakistan Stock Exchange also witnessed selling pressure, with investors shifting focus from equities to safer assets. Analysts say the current trend could continue if inflationary pressures and currency depreciation persist.

For investors holding gold at home, the rally has brought significant capital gains. Experts advise those with large reserves to consider partial profit-taking while retaining some gold as a hedge against further economic instability. For new investors, caution is urged due to the possibility of price corrections after the steep rise.

Market observers say gold’s role as a store of value is once again proving critical during uncertain times, offering both opportunities and risks for those looking to safeguard their wealth.

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Petrol Price to Drop by Rs2.49, Diesel by Rs9.11 from February 16

Monitoring desk — Sat, 15 Feb 2025 06:49:04 +0000

ISLAMABAD: The prices of petroleum products in Pakistan are expected to decrease for the upcoming fortnight starting February 16, 2025. According to official and industry sources, petrol is likely to become cheaper by Rs2.49 per litre, while high-speed diesel (HSD) may see a significant reduction of Rs9.11 per litre.

With this adjustment, the new price of petrol is expected to be Rs254.64 per litre, down from the current Rs257.13 per litre. Similarly, diesel prices are anticipated to decrease to Rs288.84 per litre from Rs297.95 per litre.

The reduction in fuel prices is attributed to a decline in global oil prices, driven by increased hydrocarbon exploration in the USA and diplomatic efforts between the United States and Russia to ease tensions over the Ukraine conflict. These factors have contributed to a positive shift in the international oil market.

The official confirmation of the new prices will be announced by the government.

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Petrol Price Up by Rs3.47, Diesel by Rs2.61 Per Litre

Monitoring desk — Thu, 16 Jan 2025 09:36:57 +0000

ISLAMABAD: The federal government has announced an increase in the prices of petroleum products for the next fortnight, raising the price of petrol by Rs3.47 per litre, effective from January 16, according to a notification issued by the Finance Division on Wednesday.

The price of high-speed diesel (HSD) has also been increased by Rs2.61, taking it from Rs258.34 to Rs260.95 per litre.

The notification stated that the Oil & Gas Regulatory Authority (OGRA) adjusted prices in response to international market fluctuations over the last two weeks.

This marks the second hike in January 2025, following an increase of Re0.56 per litre on New Year’s Eve.

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Gold Prices Hold Steady at Rs273,400 Per Tola in Pakistan

Monitoring desk — Tue, 24 Dec 2024 08:21:30 +0000

Karachi: Gold prices in Pakistan remained unchanged on Monday, staying in line with international rates. The price of gold per tola held steady at Rs273,400, while the 10-gram gold price remained at Rs234,396, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Key Highlights

Gold Prices:
- Per Tola: Rs273,400
- 10-Gram: Rs234,396
- Silver Price: Rs3,350 per tola
International Gold Rates:
- The international rate of gold remained unchanged at $2,622 per ounce, with a premium of $20.
Recent Trend:
- On Saturday, gold prices had risen by Rs2,100 per tola.

Gold rates in Pakistan often mirror international price movements, and any changes are typically influenced by fluctuations in the global markets.

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Pakistan Maintains Petrol and Diesel Prices for Mid-November

Monitoring desk — Sat, 16 Nov 2024 07:36:30 +0000

The federal government has decided not to change the prices of petrol and high-speed diesel (HSD) for the upcoming fortnight starting from November 16, 2024.

Current Prices

Petrol: Rs 248.38 per litre
High-Speed Diesel (HSD): Rs 255.14 per litre

The decision was based on an assessment by the Oil and Gas Regulatory Authority (OGRA), which reviewed international market trends over the past two weeks. The prices have been maintained to provide stability amidst fluctuating global oil prices.

Previous Price Adjustments

In the last review, the government had made minor changes:

Petrol: Increased by Rs 1.35 per litre
HSD: Increased by Rs 3.85 per litre

However, prices for other petroleum products were reduced:

Kerosene Oil: Decreased by Rs 1.48, now priced at Rs 161.54 per litre.
Light-Diesel Oil: Reduced by Rs 2.61, now priced at Rs 147.51 per litre.

Market Implications

The government’s decision to maintain the prices for petrol and diesel aims to offer some relief to consumers amid rising inflation and economic challenges. However, the small decreases in kerosene and light-diesel oil prices may provide slight benefits for households and small businesses relying on these fuels.

With the upcoming fortnightly review scheduled for December 1, the government will likely continue monitoring international oil price trends to decide on any future adjustments.

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Gold rates decrease by Rs1,400 per tola

Webmaster — Sat, 22 Jun 2024 21:26:06 +0000

ISLAMABAD: The price of per tola of 24 karat gold decreased by Rs.1,400 and was sold at Rs.241,500 on Saturday against its sale at Rs. 242,900 on last trading day.
The price of 10 grams of 24 karat gold also decreased by Rs. 1,201 to Rs.207,047 from Rs. 208,248 whereas that of 10 gram 22 karat gold went down to Rs.189,793 from Rs. 190,894, the All Sindh Sarafa Jewellers Association reported.
Per tola and ten gram silver also went up by Rs. 100 and Rs. 85.76 and was sold at Rs.2,850 and Rs.2,443.41 respectively.
The price of gold in the international market decreased by $43 to $2,320 from $2,363, the Association reported. – APP

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Gold rates decrease by Rs200 to Rs.241,300 per tola

Webmaster — Sat, 15 Jun 2024 22:32:17 +0000

ISLAMABAD: The per tola price of 24 karat gold decreased by Rs. 200 and was sold at Rs. 241,300 on Saturday compared to its sale at Rs.241,500 on previous day.
The price of 10 grams of 24 karat gold also decreased by Rs.171 to Rs.206,876 from Rs.207,047 whereas the prices of 10 gram 22 karat gold went down to Rs.189,636 from Rs.1689,793 the All Sindh Sarafa Jewellers Association reported.
The price of per tola silver and 10 grams silver remained unchanged at Rs 2750 and Rs2357.68.
The price of gold in the international market increased by $9 to $2,332 from $2,323 the Association reported. – APP

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Gold price remains unchanged at Rs240,300 per tola

Webmaster — Mon, 03 Jun 2024 22:12:57 +0000

ISLAMABAD: Gold price remained unchanged in the local market at Rs240,300 per tola despite an uptick in the price of the yellow metal in the international market.
According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold remained unchanged at Rs240,300. Similarly, the price for 10 grams of 24-karat and 22-karat gold remained unchanged at Rs206,019 and Rs188,850 respectively.
The gold price for one tola of 24-karat gold has been kept a significant Rs3,000 below its actual cost due to a reduction in purchasing power, said Karachi Sarafa Association. The gold price in the country decreased by Rs1,600 per tola in May after surging by Rs7,100 per tola in April. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200.
On the other hand, gold futures in the international market as of 1250 hours GMT were available at $2,333.10 per ounce, showing an increase of $6.40. Out of the $6.40 increase, +$1.55 was due to weakening of the US dollar and +$4.85 was due to predominant buyers, according to the Kitco Gold Index.
Gold traded marginally higher, as the benchmark 10-year US Treasury bond yield stayed in negative territory below 4.5 percent following the release of marginally lower-than-expected US core Personal Consumption Expenditures (PCE) data on Friday last. Core PCE came out at 0.2 percent month-on-month in April instead of 0.3 percent forecast. The data lifted the precious metal temporarily to a peak of $2,359, however, it promptly tumbled back down.
From a technical perspective, the precious metal’s medium and long-term trends are still bullish; however, short-term trends are bearish. A break above the consolidation zone at $2,362 would be required to bring into doubt the integrity of the short-term downtrend, otherwise further weakness is foreseen. On the downside, the psychological level of $2,300 is the initial support, followed by $2,277. – TLTP

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Gold price jumps by Rs2,400 to Rs242,700 per tola

Webmaster — Wed, 29 May 2024 23:01:43 +0000

ISLAMABAD: Gold price increased by Rs2,400 per tola in the local market in line with an overnight uptick in the price of the yellow metal in the international market.
According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold increased to Rs242,700 from Rs240,300. Similarly, the price for 10 grams of 24-karat gold increased to Rs208,076 from Rs206,018, showing an uptick of Rs2,058. Following suit, the price for 10 grams of 22-karat gold increased to Rs190,736 from Rs188,850, showing an uptick of Rs1,886.
The gold price for one tola of 24-karat gold has been kept a significant Rs3,000 below its actual cost due to a reduction in purchasing power, said Karachi Sarafa Association. The gold price in the country surged by Rs7,100 per tola in April. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200. Earlier gold price per tola in Pakistan hit all-time highs of Rs251,900 on April 17, Rs247,300 on April 16 and Rs247,600 on April 9.
On the other hand, gold futures in the international market as of 1325 hours GMT were available at $2,344.70 per ounce, showing a decrease of $16.20. Out of the $16.20 decrease, -$4.95 was due to strengthening of the US dollar and $11.25 was due to predominant sellers, according to the Kitco Gold Index.
Gold stayed on the back foot and traded in the red below $2,350 after closing the previous three trading days in positive territory. The renewed USD strength and the recovery seen in US Treasury bond yields made it difficult for the gold price to hold its ground. Falling Chinese gold imports also weighed negatively on the gold price. Last week, China Customs data showed that China-bound shipments of gold for non-monetary use fell 30 percent in April from the previous month.
From a technical perspective, the gold price maintained its bullish potential, as the 14-day Relative Strength Index (RSI), was above the 50 level, currently trading near 52.60. Adding credence to the upside bias, the gold price closed on Tuesday above the key 21-day Simple Moving Average (SMA) resistance at $2,353. A sustained move above the abovementioned barrier at $2,372 would provide legs to the ongoing recovery, calling for a test of the next topside barrier at the May 24 high of $2,384. Further up, a test of the $2,400 mark will be inevitable. On the flip side, the immediate support is now aligned at the 50-day SMA support at $2,323, followed by the $2,300 threshold. – TLTP

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