Islamabad: Ministry of Finance notified an increase in petrol price by Rs 17.50 per litre, taking it to Rs 290.45 a litre.

Other than that, price of high speed diesel was also increased by Rs 13 per litre and kerosene oil by Rs 2.56 per litre. However, price of light speed diesel was kept unchanged. Sources added that price of petrol was poised to soar by an estimated Rs 12 per litre, while diesel was expected to command an even heftier increase of Rs 20 per litre.

On August 1, Shehbaz Sharif-led government decided to jack up petrol prices by staggering Rs 19.95 per litre and diesel price by Rs 19.90 per litre.
Parallel drop was observed in US crude oil market, with prices sliding by 1.3 percent to stand at 82.12 dollars per barrel.

Published in The Daily National Courier, August, 16 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.