Despite drop in global oil price, Pakistan rises by Rs6.72
On Monday, the federal government raised the price per liter of petrol to Rs6.72 and diminished the price of diesel by Rs0.51 for the next fortnight.
In its notification, the Finance Division indicated that taking into account fluctuations in oil prices on the international market and variations in exchange rates, the government has decided to revise current oil prices in order to pass on the impact to the consumers.
As a result of recent price changes, petrol will now be sold for Rs233.91 per liter instead of Rs227.19 per liter.
The new high-speed diesel price will be Rs244.44 after a tiny reduction of Rs0.51.
The price of kerosene oil has also been reduced by Rs1.67, and it will be available for Rs199.40 per liter rather than Rs201.07.
The price of light diesel will be Rs191.75 per liter though because it has been raised by Rs0.43.
World oil drops by $4 a barrel.
World oil prices fell another $4 per barrel, or 5% on Monday, to $94.21.
Brent crude was trading at close to $98 per barrel on Sunday, August 14, but the price dropped sharply on the first working day.
Since July 19, Brent has declined by $12 per barrel. The price for a barrel was $107 a month ago.