Petrol prices

Petroleum Minister Ali Pervaiz Malik denied claims of sectoral bias after the government maintained petrol and diesel prices at Rs299.50 and Rs311.47 per litre, citing international oil price trends. Critics, including former Sindh governor Mohammad Zubair and PTI's Haleem Adil Sheikh, accused the government of failing to pass savings to consumers despite lower global prices.

US inflation surged to a three-year high in April, driven by rising petrol prices. The increase was linked to tensions with Iran, contributing to a 5.5% jump in prices.

Economic confidence in the US has plummeted to -45 according to a new poll, marking the worst sentiment since 2022. The decline is attributed to rising petrol prices amid tensions related to Iran. The sharp drop reflects growing consumer concerns about economic stability.

The RAC warns that the early May bank holiday in the UK will be the busiest for roads in a decade, with 19 million leisure trips planned despite surging petrol prices. The period, dubbed 'Frantic Friday,' is expected to see heightened traffic congestion.

US gas prices rose to $4.30 per gallon, increasing by nearly 30 cents in a week due to the Strait of Hormuz blockade and Iran diplomatic tensions. President Trump claimed prices would decrease after the Iran war.

The article warns that Iran War 'Trumpflation' could push the UK near recession due to rising food and petrol prices, along with six interest rate hikes. Economic pressures from geopolitical tensions and inflationary forces are highlighted as key risks.

Petrol prices for fuel retailers have reached their highest level since the Iran war began, according to the RAC. Drivers are preparing for further increases at the pumps.

The Middle East conflict is influencing Australian spending habits, with rising petrol prices prompting households to cut back on driving and deeper budget reductions, including forgoing healthcare. The article highlights the economic strain on families already facing high living costs.

Fuel theft is increasing as police released CCTV footage of a woman in pyjamas filling her car with fuel and driving off without paying, amid rising petrol prices. Authorities are highlighting the issue as a growing concern.

A fire at Viva Energy’s Geelong oil refinery has prompted warnings of a 20c per litre petrol price spike in Victoria, though national fuel supplies remain unaffected. Experts suggest the impact will be short-term, with some stations facing temporary outages as refinery output slows.

Labour should encourage workers to work from home to save fuel amid looming shortages, as suggested by a former BP boss. Average diesel and petrol prices have stabilized for the first time in over 40 days.