Petrol bomb unleashed

[Silaaj]

re: Petrol bomb unleashed

@Ali_Syed

The international cost of oil is I guess $122/barrel which translates to 76 cents/liter. The international prices took a dip last night where as they increased in Pakistan. Agreed that this price would be for crude oil, add some cost for processing but the customers will be paying at least 40 cents more than the cost of crude.

I don’t remember Pakistan ever importing any oil from UK. If we don’t import from UK, then why do we use the Brent crude price as a benchmark to price oil locally? The $122/barrel price is for brent crude drilled from the North sea, which is none of Pakistan’s business. It is simply used as a benchmark, to help price other grades in the world. Pakistan’s oil imports come from Saudi Arabia and other mideastern countries. The crude grade found in mideast is much better in sulfur content than Brent, and hence, is cheaper on the international market, and cheaper to refine as well.