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Federal Government increases Prices for all Petroleum products

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Keeping in view the changing landscape of oil prices in the international markets, Federal Government has revised prices of all petroleum products for the month of November. Rumors of price hike were circling in the local markets.

Petroleum prices have been revised upward keeping in view the changing prices of benchmark oil prices in the international markets.

The respective Ministry increased the price of light diesel oil (LDO) by Rs. 3. Kerosene Oil prices have also been increased by Rs 5.19 per liter.

Under the new notification, prices of high-speed diesel (HSD) has been increased by Rs 5.19 per liter and petrol by Rs 2.49 per liter.

The new price of HSD has now been fixed at Rs 84.59 per liter, whereas a litre of Petrol will now cost Rs. 75.99. The new price of kerosene is Rs 53.19 per liter while the new price of LDO stands at Rs 47 per liter.

The crude oil price during the outgoing week increased by more than 2 dollars per barrel on expectation that OPEC might consider cutting the oil supplies fruther beyond March, 2018. Both benchmark for oil trends, the US and British crude oil commonly known as Nymex and Brent shot up to 53.90 dollar and 60.44 dollar per barrel respectively.

Posted on: 2017-11-01T13:53:00+05:00