Drastic rise in the prices of petroleum products on cards in Pakistan

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Drastic rise in the prices of petroleum products on cards in Pakistan

ISLAMABAD - A Drastic rise of over Rs 10 in the prices of petroleum products in Pakistan on cards following the rise of the international crude oil prices.

The prices of petroleum products in Pakistan are likely to go up by up to Rs12 owing to an increase in the international market following an attack on Saudi Arabia’s oil infrastructure last week.

The country’s energy supply is also at a risk due to the mounted tensions with India over the revocation of autonomous status of Occupied Jammu and Kashmir.

Pakistan faces a wide gap in energy demand and supply as it relies mainly on crude oil and petroleum product supplies.

POL prices are likely to be increased by Rs5 to Rs8 from October 1 and Rs10 to Rs12 in the following month, sources privy to the development told a private media outlet link Monday.