Petrol price likely to see a huge drop in Pakistan
Key takeaways
- Add ARY News on Google AAResize ISLAMABAD: Following the US-Iran peace agreement, petrol prices are likely to see a major decline.
- The positive impacts of the historic US-Iran deal have already begun surfacing in the international oil market, where oil prices have plummeted by 7%.
- This international downward trend has raised expectations of a substantial relief package in Pakistan.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: Following the US-Iran peace agreement, petrol prices are likely to see a major decline. However, various proposals remain under consideration regarding the exact scale of the price cuts, ARY News reported.
The positive impacts of the historic US-Iran deal have already begun surfacing in the international oil market, where oil prices have plummeted by 7%. US crude oil has dropped to $76 per barrel, while Brent crude (UK) is trading at $81 per barrel.
This international downward trend has raised expectations of a substantial relief package in Pakistan. Sources indicate that in light of the global market crash, local petrol and diesel prices could be slashed by up to Rs. 40 per litre.