POL prices in Pakistan likely go up after crude oil hit 7-year high
Experts predicted that petroleum prices in Pakistan could rise up to Rs8 after the crude oil prices rose to the highest level in the last seven years, reported 24NewsHD TV.
Experts said that economic activities could disturb once the POL prices further increased.
According to the report, the benchmark London Brent Oil rose by $ 1.18 per barrel and reached a seven-year high of $83.50 a barrel.
US crude price has also increased and reached an all-time high price of $80.84 per barrel.
Economists said rising crude oil prices will make Pakistan's imported oil more expensive, after which the price of petroleum products in the country will rise by Rs 5 to Rs 8 per litre.
Opposition party PPP leader Sherry Rehman said, “Looks like there’s going to be no respite for Pakistan insight as #PTIMF is yet again increasing Petrol prices by Rs7/liter, in a series of back to back petrol bombs. This would be the 3rd consecutive price hike in 30 days. What a tsunami of price shocks for the people this has become.”
Looks like there’s going to be no respite for Pakistan in sight as #PTIMF is yet again increasing Petrol prices by Rs7/L,in a series of back to back petrol bombs.This would be the 3rd consecutive pricehike in 30 days. What a tsunami of price shocks for the people this has become!— SenatorSherryRehman (@sherryrehman) October 11, 2021
Reporter: Ashraf Khan