ISLAMABAD: The prices of petroleum products for the second half of October are expected to further increase as the Brent oil price reached $81 per barrel on Tuesday, market sources said.
Pakistan imports oil from the Middle East where crude prices fluctuate.
The imports of crude oil and petroleum products are mostly based on long-term contracts with Kuwait, Saudi Arabia, and the United Arab Emirates.
The OGRA worked out the petroleum products prices based on the last notified petroleum levy (PL), general sales tax (GST), and international oil prices and exchange rate over the past 15 days.
Copyright Business Recorder, 2021