Major Relief Announced in the Form of Reduction in Petroleum Product Prices
ISLAMABAD (Daily Qudrat): OGRA has announced a major reduction in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been reduced by Rs8 per litre, while diesel has also been made cheaper by Rs7 per litre.
The new price of petrol has been fixed at Rs338, and the price of high-speed diesel at Rs371.
The new prices will take effect from 12 midnight tonight.
Similarly, in international markets on Tuesday, crude oil and gold prices declined, while agricultural commodities showed a general upward trend.
According to a Bloomberg report, US West Texas Intermediate (WTI) crude futures settled at $85.42 per barrel after a decline of $1.43, while Brent crude futures settled at $91.24 per barrel after a decline of $1.33.
In the global precious metals market, the spot gold price remained at $4,119.18 per ounce after a decline of $20.64, while silver rose by $0.38 to $53.08 per ounce.
On the other hand, a general increase was recorded in agricultural commodity prices.
Corn futures settled at $440.75 per bushel after an increase of $1.50, while wheat futures settled at $509 per bushel after an increase of $2. Similarly, the price of cotton rose by $0.24 to $82.84 per pound, while the price of live cattle rose by $2.15 to $216.20 per unit.
