In a highly awaited development, Pakistani citizens can expect a significant drop in fuel prices starting December 1st, attributed to the consistent downturn in international crude oil prices.
Notably, following the decline in U.S. and British crude oil values worldwide, the cost of Russian crude oil has also experienced a noteworthy decrease. According to reports from international media sources, the per-barrel price of Russian oil has now dipped below $60 in the market, falling below the European Union’s specified limit.
The European Union had set a cap of $60 per barrel for Russian oil, but the current market rates are reportedly below this predetermined threshold. Analysts suggest that this reduction is a result of Russian crude oil experiencing its lowest prices in four months.
This downward trend in global crude oil prices is expected to have a substantial impact on fuel prices in Pakistan, leading to a significant reduction from December 1st onwards. However, it’s important to note that the final announcement of petroleum product prices for the upcoming 15 days will be subject to the approval of the Prime Minister.
As the nation eagerly awaits this positive economic shift, the decrease in fuel prices is poised to bring relief to the public and contribute to a more favorable economic landscape. Stay tuned for the official announcement by the Prime Minister’s office for the confirmed adjustments in fuel prices.
