Notification Issued for Change in Petroleum Product Prices
ISLAMABAD (Qudrat Daily) — OGRA has announced a change in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been reduced by Rs3.93, while the price of diesel per litre has been kept unchanged.
The new price of petrol has been fixed at Rs386.30 and the price of high-speed diesel at Rs396.96.
The new prices will take effect from 12 midnight tonight.
On the other hand, crude oil prices recorded a slight decline on Friday in the international market; however, prices are heading toward a weekly increase due to fears of possible disruptions in oil supply from the Middle East and a larger-than-expected decline in US oil inventories.
On Friday at 3:52 AM GMT, the price of Brent crude oil futures fell by 71 cents, or 0.67 percent, to $105.21 per barrel.
The price of US West Texas Intermediate (WTI) crude oil also fell by 77 cents, or 0.79 percent, to $97.20 per barrel.
On Thursday, WTI prices had risen by more than 3 percent. A larger-than-expected decline in US crude oil inventories was a major reason for this increase. US inventories recorded a decline due to oil production being affected by a hurricane. So far during the week, Brent crude oil prices have risen by 0.44 percent, while WTI has become more expensive by 5.81 percent.
