The prices of petrol and diesel are expected to be revised as the rates of global markets have declined. Experts suggest that petrol prices will be reduced after November 15 as global fuel prices have decreased and also due to the fluctuation of Pakistani Rupee against the US Dollar.
The interim government is set to have a meeting on 15th November to decide the fuel prices for the next 2 weeks of November. The global market has seen a decline of 3% in fuel prices as the demand had decreased for the last three months.
Brent crude dropped down to $79.54 per barrel and the crude oil of US also fell and now stands at $75.33. The low demand in the regions due to rising tensions have decreased the global fuel prices.
Moreover, two weeks back the government had already been sent a proposal for lowering petrol prices but it wasn’t further worked upon.