Announcement of Increase in Petroleum Product Prices, Notification Issued
ISLAMABAD (Daily Qudrat): OGRA has announced an increase in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been increased by Rs1.54 per litre and diesel by Rs2.16 per litre.
The new price of petrol has been fixed at Rs379.25 and the price of high-speed diesel at Rs395.82.
The new prices will take effect from 12 midnight tonight.
On the other hand, a decline was recorded in crude oil prices in the international market, after which the price of Brent crude came close to $114 per barrel. Hopes of a reduction in tensions between Iran and the US put pressure on prices; however, investors remain cautious due to fears of continued attacks on key oil installations in Saudi Arabia.
According to Arab TV, by 10:20 am on Monday, the price of Brent crude fell by 2.29 percent, or $2.68, to $114.04 per barrel.
Later, it was trading at $114.44 per barrel, down 1.95 percent. A decline was also seen in the price of US crude West Texas Intermediate. Its price fell by 2.49 percent, or $2.58, to $100.69 per barrel.
