Geo Business

Petroleum prices likely to change effective August 1

KARACHI: Petroleum products prices expected to slightly increase, while the diesel price to be slashed effective August 1, 2011. Sources said that the prices of petrol likely to increase by Rs0.50 per litre, HOBC and kerosene by Rs1.00 per litre, while the diesel price might be slashed by Rs0.50. Pakistan petroleum products prices are correlated with the international prices. Sources said that these expectations are based on the latest international prices, which possibly could change only slightly in the next two/three days.