Business
Petrol Prices Expected to Drop by Up to Rs6.36 per Litre from December 1 – SUCH TV
Pakistan is likely to see a significant reduction in petroleum prices from December 1, 2025, with expected cuts of up to Rs6.35 per litre for the next two weeks, according to industry and government sources.
The anticipated price drop comes as global oil supplies improve, largely due to the restoration of multiple units at Kuwait’s Al-Zour Refinery, one of the Gulf region’s largest refining facilities.
Based on initial calculations over the past 13 days:
Petrol may become cheaper by Rs3.70 per litre, dropping from Rs265.45 to Rs261.75.
High-Speed Diesel (HSD) is expected to fall by Rs4.28 per litre, to Rs280.16 from the current Rs284.44.
Kerosene could see a modest cut of Re0.73, bringing its price to around Rs193.61.
Light Diesel Oil (LDO) is projected to see the steepest reduction at Rs6.35 per litre, decreasing to Rs164.45 from Rs170.80.
The downward trend follows improved supply conditions in the Gulf, in contrast to the previous fortnight when the federal government kept petrol prices unchanged at Rs265.45 per litre, while raising HSD prices by Rs6 due to supply constraints.
Those earlier supply disruptions stemmed from maintenance at Kuwait’s Kutais refinery and a temporary shutdown of two units at the Al-Zour complex issues that have now largely been resolved.
With these facilities now back in operation, supply shortages have eased, stabilising the market and putting downward pressure on international petroleum product prices.
Further supporting the expected price cuts is a decline in global crude prices. Brent crude has dropped by 1.44%, reaching $62.47 per barrel, while WTI crude has fallen by 1.68% to $58.83 per barrel.
Officials say that improved refinery output and softer crude prices have together created favourable conditions for Pakistan to pass on the benefit to consumers in the upcoming price revision.
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Trump administration in advanced talks for a rescue package for Spirit Airlines, source says
A Spirit commercial airliner prepares to land at San Diego International Airport in San Diego, California, U.S., January 18, 2024.
Mike Blake | Reuters
The Trump administration is in advanced talks for a financing package for Spirit Airlines as the carrier is facing the risk of a liquidation, according to a person familiar with the matter.
Spirit had been facing a potentially imminent liquidation, people familiar with the matter told CNBC last week, speaking on the condition of anonymity to discuss matters that had not yet been made public. The Dania Beach, Florida-based carrier in August filed for its second Chapter 11 bankruptcy in less than a year, after it struggled to increase revenue to cover rising costs.
President Donald Trump hinted at potential government aid on Tuesday, telling CNBC’s “Squawk Box“, “Spirit’s in trouble, and I’d love somebody to buy Spirit. It’s 14,000 jobs, and maybe the federal government should help that one out.”
The White House didn’t immediately comment.
“We are hopeful that the government will recognize the needs for emergency funds especially in the current economic environment,” a spokesperson for the Associated of Flight Attendants-CWA, which represents Spirit’s cabin crews, said in a statement. “The last thing our economy needs is tens of thousands more people out of work and the last thing the travelling public needs is fewer choices in air travel.”
The terms of the financing deal weren’t immediately known. The Wall Street Journal earlier reported that the talks were in an advanced stage.
The U.S. airline industry accepted more than $50 billion in taxpayer aid to weather the Covid-19 pandemic, which is still its biggest-ever crisis, but those funds weren’t handed to one specific airline. Some of the aid gave the U.S. government stock warrants for airlines.
Airlines also received a government bailout following the Sept. 11, 2001, terrorist attacks, but that money was also for more than one company. The U.S. in 2008-2009 also bailed out the auto industry during the financial crisis and took stakes in manufacturers.
The Trump administration has taken equity stakes in some companies it deemed critical to national security like Intel and USA RareEarth, though Spirit stands out as it is in bankruptcy.
In February, Spirit said it expected to exit bankruptcy in late spring or early summer, telling a U.S. court that it would shrink and focus its planes on high-demand routes and travel periods. Pilot and flight attendant unions had also made concessions, including going on furlough in recent months, in a bid to help Spirit survive.
But jet fuel prices have nearly doubled in some parts of the U.S. since then, further adding to challenges for Spirit and the rest of the airline industry.
As a low-fare airline that also faces competition from larger carriers with their own no-frills, basic economy offerings, it has grown harder for Spirit to cover expenses. Spirit had introduced extra-legroom seats and other premium options to try to cater to higher-spending customers.
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