Canada Global Tv

Tag: Oil prices

  • Between April 1 And June 30, Fuel Tax On Gas And Diesel Will Be 13 Cents Per Litre.

    Between April 1 And June 30, Fuel Tax On Gas And Diesel Will Be 13 Cents Per Litre.

    Canada Global(Web News)Fuel taxes are adjusted quarterly based on the price of West Texas Intermediate (WTI) oil. Provincial fuel tax revenues help fund programs, services and infrastructure that depend on Albertans rely on it every day

    Two years ago, the Government of Alberta introduced the Fuel Tax Relief Program to help Albertans facing higher prices at the fuel pump. The program has since saved drivers more than $2 billion and helped reduce inflation in the province.

    “The Fuel Tax Relief Program is designed to save Albertans money when oil prices are high and provide essential government revenue when oil prices are low. Since oil prices averaged $80 per barrel during the most recent quarterly review period, are below the barrel, so the provincial fuel tax for gas and diesel will be 13 cents per liter starting April 1.

    Provincial fuel tax revenue helps fund programs, services and infrastructure that Albertans rely on every day. In 2024-25, fuel tax revenue is forecast to be $1.4 billion, supporting everything from better roads to better health care and more classroom support to meet the needs of our growing population. Funding will help.
    Albertans will continue to pay some of the lowest fuel prices in the country even after the fuel tax rate goes into effect. As of mid-March, gas prices in Alberta remained 11 cents below the national average and a full 22 cents below what they were in March 2022 when the government first announced the fuel tax relief program.
    “The Government of Alberta is committed to following the rate schedule we set last year for the fuel tax relief program. When oil prices return, fuel tax rates will return. If oil prices above $79.99 per barrel, the program will restart and the fuel tax rate will decrease.
    “We will continue to review fuel taxes on a quarterly basis and another update before the end of June. will provide.”
  • How Did Petrol Become Cheap In Pakistan? Will It Become Expensive In The Coming Days?

    How Did Petrol Become Cheap In Pakistan? Will It Become Expensive In The Coming Days?

    Canada Global(Web News) The caretaker government has reduced the price of petrol by 40 rupees per liter while giving relief to the people. The trend of rising crude oil prices has been seen in the global market for a few days. According to experts, the reason for the decline in petrol prices is the depreciation of the dollar. If the dollar continues to fall, there will be no increase in petrol prices on November 1.

    Crude oil prices continue to rise in the global market. On September 27, the price of crude oil was $95 per barrel, which fell to $82 per barrel on October 6, but now the price of crude oil is $88 per barrel.

    According to economists, oil prices are changed every 15 days to determine the price according to the increase or decrease in crude oil prices in the global market. The recent drop in price is not due to crude oil prices in the global market, it is due to the appreciation of the rupee.

    Due to the war between Palestine and Israel, the price of crude oil will continue to increase, but the rupee is stabilizing in Pakistan, the effects of this increase will be controlled, if the value of the rupee in the next few days. If the increase continues, the price of petrol will not be increased, but if the value of the dollar increases, the price of petrol will be increased from November 1.

    In Pakistan, the price of petrol has decreased by 48 rupees in the last 15 days. . On the other hand, the price of crude oil in the global market decreased from 95 dollars per barrel to 84 dollars per barrel and now it has returned to 90 dollars.

    Also read this 

    Big reduction in petrol price Rs 40 per liter cheaper

    Whether the prices of petroleum products will increase from November 1 or not, it has to be seen when and at what rate Pakistan bought crude oil.

    Economists say that the price of petrol in Pakistan fluctuates with the price of crude oil in the world market. If it increases further, petrol prices will have to increase in Pakistan as well. The war between Israel and Palestine has created uncertainty

    The depreciation of the dollar is also reducing the price of petrol, but the fall in the value of the dollar is a result of a crackdown on hoarders and smuggling, if smugglers find other means. Then the dollar rate, which has temporarily gone down, will go up. Afghan transit trade is also completely closed, it will also have to be opened.

    It should also be noted that out of the taxes and duties that are imposed, many people resort to smuggling. All these things are still uncertain.

    source link

  • A major drop in petrol prices is likely

    A major drop in petrol prices is likely

    Canada Globel (web news)Oil prices are continuously decreasing in the global markets, while the benefit of this decrease has not yet been received by the Pakistani people.

    People of Pakistan are forced to buy expensive petrol and diesel while the price of crude oil in the global market has reduced to 71 to 75 dollars per barrel.

    According to the sources of the Ministry of Petroleum, the price of petrol in Pakistan is around 186 rupees in international ratio, petrol is being purchased at 76 to 77 dollars per barrel.

    At present levy charges are being levied on petrol at Rs 50 per liter while sales tax on all petroleum products is still zero.

    According to the sources of the Ministry of Petroleum, the government is earning up to Rs
    It should be noted that the prices of petroleum products will be revised on December 15.

    Source link