Despite a drop in worldwide oil prices, the government announced an increase in the price of gasoline on Monday.
The government reduced the price of gasoline while raising the price of high-speed diesel in the most recent weekly review (HSD).
After rising to their greatest level since 2008 early this year, international oil prices have just fallen to near-year lows. Brent crude dipped below $95 today on slow Chinese demand and concerns that Western superpowers and Iran may soon reach an agreement.
Following a series of price increases, Prime Minister Shehbaz Sharif announced a drop in pricing for all petroleum products on July 14 in order to pass on the advantage of falling crude prices on the international market.
