Government Reduces Petroleum Product Prices, Notification Issued
Islamabad (Qudrat Daily) — OGRA has announced a reduction in the prices of petroleum products. According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs 2.27 and the price of diesel by Rs 3.56 per litre.
The new price of petrol has been set at Rs 389.03 and the price of high-speed diesel at Rs 404.97.
The new prices will take effect from 12 midnight tonight. The announcement of the reduction in new petrol prices has been made for September 29. Meanwhile, according to foreign media, on Monday the price of Brent crude oil in the global market rose by $1.82, or 1.74 percent, to $106.14 per barrel. The price of US West Texas Intermediate crude oil rose by $1.14, or 1.23 percent, to $93.55 per barrel.
It may be noted that the American newspaper The Wall Street Journal has claimed that President Donald Trump rejected Iran’s proposal for a 7-day ceasefire.
Similarly, crude oil prices in the global market rose by about three percent, and the price of Brent crude oil exceeded $107 per barrel. This increase in oil prices came after US President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz within seven days. The Strait of Hormuz is considered one of the important sea routes for global oil transportation. However, meanwhile, the Saudi official news agency said that Saudi Foreign Minister Prince Faisal bin Farhan has arrived in Washington for talks, where he will meet US Secretary of State Marco Rubio.
