Oil prices to remain unchanged
Bureau Report

KARACHI—Oil Companies Advisory Committee in a meeting today decided to sustain the current prices of petroleum products till next 15 days. Accordingly, the retained price of petrol would remain at Rs. 56.29/litre, high-speed diesel at 97.18, hi-octane at Rs. 62.77, kerosene oil at 32.89. Whereas, light-diesel would continue to sell at Rs. 30.97/litre.
Agencies add: After touching a low in Asian trading of $55.72 — a level not seen for a front-month contract since June 13 — light sweet crude for January delivery rebounded, trading 35 cents above Tuesday’s close at $56.85 a barrel in late morning trading on the New York Mercantile Exchange. In London, January Brent crude futures on the ICE Futures exchange rose 36 cents to $54.68 a barrel.
Heating oil slipped 0.47 cent to $1.6050 a gallon, while gasoline rose 1.79 cent to $1.4130 a gallon. Crude inventories fell 4.2 million barrels to 317.6 million barrels in the week ended Nov. 25 from the previous week, but remain 10.3 percent higher than a year ago, the Department of Energy’s Energy Information Administration said Wednesday.