Karachi: The prices of petroleum products in the global market have started increasing once again. Industry sources say that there has been an increase of more than 50 percent in the fares of ships used to transport oil from the Persian Gulf, which is having a direct impact on the prices of petrol and diesel.
On June 12, the fare of a ship was $14 per ton, which has now increased to $21 per ton. As a result of this increase, the prices of petrol and diesel have increased by about 10 to 12 percent globally. The rate of petrol has increased from $76 per barrel to $82, while diesel has increased from $82 to $93 per barrel. JP1 oil has also become expensive, ranging from $80 to $90 per ton.
According to experts, if this trend continues, there is a risk of increasing the prices of petroleum products at the local level as well, which may put a new burden of inflation on the people.
