Govt shifts to daily fuel price revision mechanism
Faisal Sheikh ISLAMABAD: The federal government has decided to review fuel prices on a daily basis amid a surge in global oil rates, Petroleum Minister Ali Pervaiz Malik said on Friday. Addressing a press conference alongside Information Minister Attaullah Tarar, Malik said the decision was approved by Prime Minister Shehbaz Sharif and the federal cabinet. Renewed military strikes in the Middle East were also weighing on risk sentiment, keeping oil prices elevated and reigniting concerns about inflation and growth. Oil prices were on the rise, with Brent crude futures LCOc1 up 0.6% at $84.75 a barrel, while US crude CLc1Read More
