Chamber of Petroleum Consumers, COPEC, has predicted that prices of petrol and diesel are expected to surge by 3.7 percent and 2.5 percent.
In nominal terms, COPEC said ex-pump prices of petrol and diesel are expected to increase by 24 pesewas and 17 pesewas.
A statement issued by COPEC indicated that the average surge for both products in nominal terms is 20 pesewas representing 3.1 percent.
Some Oil Marketing Companies could increase their prices less than the 20 pesewas increase due to competition. It added that Brent crude plunged by 10.7 percent to 73.45 percent per barrel on the 26th of November and the OPEC Reference Basket plunged by 6.9 percent to 76.09 dollars per barrel on the same date.
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