Petroleum prices in Pakistan likely to jack up from today

Petrol and fuel prices across Pakistan are expected to increase by Rs13 per litre and diesel by Rs18 per litre from today, PEN reported on Tuesday.

According to sources, a further increase in oil prices in the global market as a result of Russia-Ukraine hostilities could also affect fuel prices in Pakistan.

Petrol prices are expected to rise by Rs13 per litre and diesel by Rs18 per litre, the sources said.

Currently, petrol is being sold in the country at Rs147.83 per litre, high-speed diesel (HSD) at Rs144.62 and light diesel oil (LDO) at Rs114.54 per litre.

In Asian trade, Brent crude was trading at 96 per barrel and WTI was trading at 95 per barrel.

Shares slide, oil rises on growing Ukraine crisis

World shares slid on Monday while oil prices jumped to seven-year highs on U.S. warnings that Russia could soon invade Ukraine, and investors scurried to buy safe-haven government bonds they mostly shunned so far this year, Reuters reported.

Europe’s STOXX 600 share index (.STOXX) tumbled as much as 3.0% and spot gold headed toward its biggest single-day gain in four months even as Russia suggested it was ready to keep talking to the West to defuse the crisis.