Pakistan may hike petrol price

January 28th, 2012 - 5:25 pm ICT by IANS  

Islamabad, Jan 28 (IANS) Pakistan may increase prices of petroleum products Jan 31, a media report said.

The price rise is expected between Rs.3 to Rs.6 per litre.

An official said that tension between the US and Iran has prompted heavy buying by China and Japan, resulting in a high demand and increase in prices, reported the daily Dawn.

He said that oil prices in the Middle East have risen to $112 per barrel. Pakistan’s major supplies come from the Middle East.

In December last year, Pakistan increased the price of diesel by Rs.4.67 to Rs.98.94 per litre and that of petrol by 48 paisa to Rs.87.89 per litre.

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