LAHORE: As a result of the fall in crude oil prices, all petroleum products are anticipated to become less expensive starting tomorrow (December 1).According to reports in the local media, the Sharif-led administration anticipates lowering petrol costs to pass along the global decline to consumers at a time when the cash-strapped nation has been experiencing record inflation.
Recently, the price of crude oil dropped $2.57 to $81.14 a barrel, and if the government passes on the full decrease in global oil costs to its citizens, Pakistani consumers will benefit from this respite.
Since the government of the ruling alliance took office to honour its agreement with the international lender, the masses have already experienced several shocks related to the price of oil.
A significant price reduction on important petroleum products has recently been demanded by Muzammil Aslam, a former spokesperson for the ministry of finance.Oil prices are now at their lowest point since 2022, which is lower than they were before the conflict in Russia and Ukraine.
Local petrol cost Rs. 113.48 per litre a year ago, when crude was under $75 per barrel. See how much Ishaq Dar can transmit. Price reductions of 25 rupees per litre are necessary “He stated on social media that it is time to share relief.
