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ISLAMABAD, Feb 17: The Cabinet will meet here on Wednesday to discuss a number of issues including oil prices.
Official sources said here on Monday that the much-feared price rise in the wake of the Iraq war would be discussed.
The average seven per cent increase in the petroleum prices announced by the oil advisory committee on Saturday was considered fairly high.
The oil prices in the international market, which were now at $33 a barrel, sources said, were likely to shoot up to $40 a barrel in case of uninterrupted supply.
“And if there is disruption in supplies during a war, then these prices could go up to $48,” an official said.—Staff Reporter
