ISLAMABAD – Price of petroleum products are expected to decrease up to 5 to 8 rupees due to price fall of petroleum in International market, PakistanTribe received international media reports.
Price fall of petroleum products is expected in international market due to which price of petroleum will also decrease up to five to eight rupees per liter.
It is expected that the new prices will be applicable after 1st January 2015.
According to Oil and Gas Regularity Authority (OGRA) price of crude oil has decreased to $57.81 per barrel in international market and further decrease is expected.
It is pertinent to mention that price of oil in international market has fallen at the lowest level of last five years.
Experts also believe that a critical financial and political instability may meet to the world especially to oil exporting countries if the same prices sustain in international market for long.
“International Market is giving a falling trend in oil Price. This expected further decrease will effect Nigeria, Venezuelan and oil exporting countries badly as well as they have set their national economy’s dependence on $ 100 per barrel for oil export and did not take solid steps against price fluctuation in international market,” British finance analyst Pol Stevenson said.
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