The prices of petroleum products are estimated to register a reasonable decline later this month as a result of drop in the price of crude oil in international market during the current month.
The price of crude oil had so far moved down by about seven per cent during this month, but consumers in Pakistan would get the benefit of only four per cent because most of oil shipments came when the price of crude oil hovered around $104 per barrel.
The decline in crude oil’s price in international market have partially been offset by a recent depreciation of rupee against dollar from Rs99 to Rs101 following the continued political adventurism in the country as a result of protests by Pakistan Tehreek-i-Insaf and Pakistan Awami Tehreek in Islamabad.
The prices of petroleum products are anticipated to come down further next month if the price of crude oil sustains at $107 per barrel.
