Islamabad – After the significant decline in crude oil prices in the global market, a major decline in petrol and diesel prices is being projected in Pakistan as well, which could provide considerable relief to the public.
According to sources, a decline of 13 to 15 percent has been recorded in global oil prices. After this reduction, the price of petrol in Pakistan is expected to decrease by about Rs 55 per liter, while the price of diesel is likely to decrease by Rs 95 to 100 per liter.
It is being told that the final decision regarding the change in the prices of petroleum products will be taken by Prime Minister Shahbaz Sharif, who will announce it after reviewing the recommendations of the relevant institutions.
There has been a significant decline in the price of Brent crude oil in the global market, which has decreased from $ 112 per barrel to about $ 94.69. Similarly, the price of US crude oil (WTI) has also decreased to $ 96.73 per barrel.
According to experts, the reduction in tensions between Iran and the United States has stabilised the global market, which has led to a decrease in oil prices. Earlier, prices had increased rapidly during the tension.
If the government announces a price cut, it will not only provide relief to the public but is also likely to reduce inflation.
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