ISLAMABAD: The crude oil prices in global markets have surged in the past 13 days, possibly leading to a price hike in Pakistan’s local fuel rates.
Oil and Gas Regulatory Authority (OGRA) prepares its next review on August 31 on the possible increase in prices.
British Brent crude moved to $67.47 from $65.85, while American crude oil surged from $61.98 to $63.62.
This steady upward trend in the international market is likely to impact Pakistan’s petroleum product prices in the coming days.
According to a notification issued by the Ministry of Finance, the price of high-speed diesel has been reduced by Rs 12.84 per liter, providing significant relief to consumers.
The new price of high-speed diesel has been fixed at Rs 272.99. The price of petrol per liter remains at Rs 264.61. The new price of kerosene oil has been fixed at Rs 178.27 per liter. The new price of light diesel oil has been fixed at Rs 162.37 per liter.
The notification states that the price of kerosene has been reduced by Rs 7.19 per liter, while a reduction of Rs 8.20 per liter has been announced in the price of light diesel oil.
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