Discussions about possible changes to petroleum product prices are underway at Pakistan’s Oil and Gas Regulatory Authority (OGRA), with a formal announcement anticipated on December 1.
The reason for these discussions is the significant drop in oil prices worldwide, which is expected to affect Pakistan’s petrol costs significantly.
The current recorded price of gasoline in Pakistan is Rs. 281.34 per liter. Predictions grounded in the present worldwide patterns of the oil market indicate a noteworthy decrease of Rs7 per litre for gasoline and Rs6 per liter for diesel in Pakistan. The declining trend in global oil prices is the reason for this possible decline.
Read More: Petrol Companies Urge Govt to Avoid Shifting to Weekly Oil Price Revision
There is an additional layer of official deliberation involved in the process because the final determination of petroleum product prices for the next 15 days is subject to the approval of the acting prime minister.
Crude oil prices have been steadily declining on a global scale. According to recent estimates, the price per barrel of Russian oil has dropped below $60. It’s interesting to note that the market price of Russian oil has fallen below the $60 per barrel ceiling that the European Union set.
Analyzing individual market performances, the British Brent contract fell by 1% to close at $80.58 per barrel.
At the same time, the US West Texas Intermediate saw a two percent decline, closing at $75.54 per barrel. These global patterns largely shape the anticipated decreases in fuel costs for Pakistani consumers.
The public will anxiously await the declaration on December 1 since it might have favorable economic effects and shield consumers from the worldwide swings in oil prices.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
