Petrol prices on the verge of easing as global crude oil rates slide - SUCH TV
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In a welcome development for the citizens of Pakistan, it is expected that fuel prices will witness a considerable decrease in the coming month. Sources privy to the development said that the Oil and Gas Regulatory Authority (OGRA) has prepared a preliminary draft for reducing the prices of petroleum products, with the final decision expected to be sent to the Petroleum Division on October 31. This much-anticipated reduction comes in the backdrop of declining global crude oil prices, offering relief to Pakistani consumers. The primary catalyst for this anticipated drop in fuel prices is the decreasing cost of crude oil in the global market. Recent reports suggest that tensions in the Middle East, which had been contributing to a surge in oil prices, have significantly subsided. British crude oil prices have fallen below $90 per barrel, while American crude oil prices have dipped below $84 per barrel. These significant declines are attributed to diminished concerns re