Islamabad: (RightNow). Oil prices have surged again in the global market. Brent crude oil has reached $109.20 per barrel, while US crude oil has risen to $104.10 per barrel.

Brent crude oil price has increased by 4.36%, and US crude oil price has recorded a 4.01% rise. The price of Emirati Murban crude oil has reached $131.20 per barrel.

The government has adopted a daily review mechanism for oil prices. OGRA decides local prices considering global rates.

The rise in oil prices impacts Pakistan’s import bill and petroleum product prices. Petrol is set at Rs 375.82 and diesel at Rs 403.32 per liter.

It is noteworthy that the Prime Minister has announced a petrol relief scheme for motorcycles and small cars, offering a Rs 100 per liter discount.