The commodity market’s most valuable asset is oil. It has a wide range of applications, ranging from fuel to polymers to asphalt.
As a consequence of this, the oil sector is a driving force in the economy, and governments, firms, investors, and traders all pay close attention to the fluctuations in the price of oil. Oil prices are affected by a wide variety of factors, one of which is the supply and demand theory of economics.
According to the report of the Government of Pakistan Finance Division, the government has revived the price of petroleum products. The new price effective from September 1 2022 are as follow:
Prices of both gasoline and oil went hiked by 2.07 rupees per liter, resulting in a new price of 235.98 rupees per liter.
The price of high-speed diesel has gone up by Ra 2:99 per liter.
The new price per litre is TA 247.43. The price of a litre of kerosene oil went up by Rs. 10.92, bringing it to its current level of Rs. 210.32.
The price of a liter of light diesel oil went up by Rs 9:79, bringing it to its current level of Rs 201:54. As of the first of September, the new prices will be in effect.
Mahnur is MS(development Studies)Student at NUST University, completed BS Hons in Eng Literature. Content Writer, Policy analyst, Climate Change specialist, Teacher, HR Recruiter.
