Oil prices rise in Asian trade

Oil prices rose again in Asian trade. New York’s main contract West Texas Intermediate (WTI) stated a rise of 38 cents as it increased to $94.58 during mid-morning.

This means that oil prices in the Asian countries are going to take up a new rise yet again.  However, most recently the news in Pakistan has taken the media by storm as oil prices have dropped by 0.40 PKR. This was expected because prices have been on a high since the past six months and now it is about time that the petrol prices come down.

When it comes to fuels, Pakistan has already banned the selling of CNG in major cities of the country. Islamabad, Rawalpindi, Karachi, Lahore, Peshawar and Quetta have put a stop on the sale of CNG. Therefore, the government had to take a step regarding the oil prices. Petrol at the moment has fallen while Diesel stands tall.

With oil prices rising in the Asian trade, it means that the fuel prices will rise in the country. However, for now there are no effects on the buying or selling of oil in the international market.

Short URL: https://www.newspakistan.pk/?p=42114

Posted by Ahmad Mehdi on Nov 8 2013. Filed under Middle East, South Asia, World. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.