Crude Oil Prices Continuesly Declined in Global Market

Under the influence of the global market, the possibility of further reduction in oil prices in Pakistan is likely.

عالمی مارکیٹ میں خام تیل کی قیمتوں میں مسلسل کمی

Crude Oil Prices Reduced in Global Market

According to international reports, today in the global market, Brent crude prices have decreased by 24 cents to $89.89 per barrel, and American crude oil trades at $85.22 per barrel after a 17-cent decrease.

Recent decrease in petroleum Prices in Pakistan

Notable Price Fluctuations

It’s important to note that at the beginning of the current year, oil prices had dropped by approximately 11%. After this decline, Brent crude oil was at $84.07, and West Texas crude oil stood at $82.31. However, due to Middle East tensions, there was a temporary increase in prices for a few days.

Improvement in the Value of Rupee

According to media reports, there has been an unusual improvement in the value of the Pakistani Rupee. Local petroleum product prices are expected to decrease following the global reduction. However, economists caution that various factors influence the determination of local petroleum product prices, so it’s premature to make any definitive statements about prices.