ISLAMABAD: The prices of petroleum products are likely to be increased by Rs 15 per liter from next week, according to a private TV channel. The channel reported that the price of crude oil in the global market has increased by 5 dollars per barrel in the last one week.
The price of crude oil in the Gulf market has increased from 88 dollars per barrel to 93 dollars. This increase in the price of crude oil is likely to have a cascading effect on the prices of petroleum products in Pakistan.
If the value of the dollar does not decrease further, the prices of petroleum products may increase further from September 16. The government is currently
reviewing the prices of petroleum products and a decision on the new prices is likely to be taken in the next few days.
The increase in the prices of petroleum products will have a negative impact on the economy. It will increase the cost of transportation and other essential commodities, which will put further pressure on the already high inflation.
