Karachi: A sharp increase in the cost of transporting oil has been recorded in the global market. According to industry sources, the fares of oil tankers have suddenly increased by 50 percent, due to which the prices of petrol and diesel are also rising rapidly.
In just one week, the fare of a ship bringing oil from the Persian Gulf has increased from $14 per ton to $21. The price of petrol has increased from 76 to 82 dollars per barrel, while diesel is now available at 93 dollars per barrel. The price of JP1 oil has also increased to 80 to 90 dollars per ton. This increase is not only an alarm bell in the global market but also predicts another wave of inflation for an importing country like Pakistan.
