Save Our Pak
In the international market, the prices of diesel and petrol have gone up by 10 to 12 percent. This increase happened mainly because the freight charges of oil-carrying ships have jumped by 50 percent, as Reported By Save Our Pak News Channel On Monday.
According to industry sources, the freight rate for shipping oil from the Gulf region was around $14 per ton on June 12, and now it has increased to almost $21 per ton. This sudden rise in shipping costs has directly pushed up fuel prices.
Right now, petrol prices in the global market have increased from $76 to $82 per barrel, while diesel prices have jumped from $82 to $93 per barrel. Sources also shared that the price of JP-1 jet fuel has gone up from $80 to $90 per ton.
Meanwhile, in Singapore, the global oil trade opened with a sharp rise in prices due to the growing conflict in the Middle East. On the first day of trading, oil prices rose by over 3 percent.
During trading, Brent crude oil was being sold at nearly $80 per barrel, while WTI crude oil crossed the $76 per barrel mark. The price of global gas reached $3.90 per MMBTU.
