{"id":89100,"date":"2025-10-23T16:17:17","date_gmt":"2025-10-23T11:17:17","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=89100"},"modified":"2025-10-23T16:17:17","modified_gmt":"2025-10-23T11:17:17","slug":"crude-oil-prices-jump-4-amid-us-sanctions-on-russian-refineries","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/crude-oil-prices-jump-4-amid-us-sanctions-on-russian-refineries\/","title":{"rendered":"Crude oil prices jump 4% amid US sanctions on Russian refineries"},"content":{"rendered":"<p>ISLAMABAD: The price of crude oil in the global market increased by 4% due to US sanctions on Russian oil refineries.<\/p>\n<p>According to the <a href=\"https:\/\/dailyausaf.com\/en\/world\/heres-how-pakistan-outsmarted-indian-rafale-pilots-in-may-showdown-details-inside\/\">British news agency<\/a>, the price of US crude oil rose by 4% to $61 per barrel.<\/p>\n<p>The price of Brent crude oil rose by 4.3% to $65.3 per barrel.<\/p>\n<p>According to experts, following the US sanctions, refineries in China and India will need to find alternative suppliers to avoid being excluded from the Western banking system.<\/p>\n<p>Earlier, Pakistan was considering raising the <a href=\"https:\/\/dailyausaf.com\/en\/business\/govt-raises-petroleum-levy-by-rs-10-per-litre-to-fulfill-imf-conditions\/\">Petroleum Development Levy<\/a> (PDL) to over Rs100 per liter in the upcoming fiscal year as part of a new understanding with the International Monetary Fund (IMF).<\/p>\n<p>As per details, the IMF delegation has arrived in Islamabad on Monday to finalize budget negotiations for the upcoming fiscal year 2025-26.<\/p>\n<p>The current levy on petrol and diesel stands at Rs 78 and Rs 77 per liter, respectively. Islamabad will increase the levy to boost non-tax revenues and support power and electric vehicle subsidies and help reduce circular debt, <i>The News\u00a0<\/i>reported, citing official sources.<\/p>\n<p>The move to hike the petroleum levy is central to Pakistan\u2019s broader plan to enhance non-tax revenues and tighten its fiscal position under the IMF\u2019s Extended Fund Facility (EFF).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The price of crude oil in the global market increased by 4% due to US sanctions on Russian oil refineries. According to the British news agency, the price of US crude oil rose by 4% to $61 per barrel. The price of Brent crude oil rose by 4.3% to $65.3 per barrel. According to [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":31612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[7160,31845],"class_list":["post-89100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-crude-oil","tag-us-sanctions-on-russian-refineries"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/89100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=89100"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/89100\/revisions"}],"predecessor-version":[{"id":89102,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/89100\/revisions\/89102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/31612"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=89100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=89100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=89100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}