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Petroleum prices likely to rise in December

Petroleum prices likely to rise in December

Islamabad: The Government likely to rise in Petroleum product prices as Rs. 3 to Rs. 5.5 rupees in December 1, 2011 on Wednesday.

According to Oil Committee officials, the assessment is being taken since Arab light crude oil has been increased by $7 per barrel to $112 from $105.

As a result, the price of light diesel is likely to be raised by Rs 5.38; that of high speed diesel by Rs 4.35; petrol by Rs 1.21; kerosene by Rs 4.45, while high octane blending component is expected to be increased by Rs 1.31 per liter.

A final decision to apply the prices in December would be taken after an authorization by the Inland Freight Equalization Margin (IFEM) on November 25.

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