The prices of petroleum products are likely to increase by up to Rs15 per liter on September 16 amidst the hike in the crude oil price by $5 per barrel in the international oil markets.
Fears of a fresh inflationary storm in Pakistan are growing amidst crude oil prices rise on international markets. The price of petroleum products might rise starting on September 16 if the value of the dollar does not fall further; an increase of up to 15 rupees per liter is possible.
The price of crude oil in the Gulf market climbed from $88 dollars per barrel to $93 dollars. According to Pakistani currency, the price of crude oil in the world market on September 1 was Rs 25,344 per barrel, in which an increase of Rs 2,742 was recorded.
After the increase in prices, the price of crude oil in Pakistani currency has reached Rs 28,086 per barrel.