ISLAMABAD: The Pakistani public is eagerly anticipating a significant reduction in fuel prices on December 1st, driven by the continuous decline in international crude oil prices.
Notably, after the decrease in the prices of US and British crude oil in the global market, the cost of Russian crude oil is also experiencing a decline.
International media reports reveal that the price of Russian oil per barrel has now dropped below $60, which is below the specified limit of $60 set by the European Union.
This development is contributing to the overall downward trend in global crude oil prices, reaching their lowest level in the past four months.
As a consequence of this decline, a substantial reduction in fuel prices is anticipated in Pakistan starting from December 1st.
However, it’s important to note that the final announcement of petroleum product prices for the next 15 days is contingent on the approval of the Prime Minister.