POL Prices in Pakistan to register significant decrease

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POL Prices in Pakistan to register significant decrease

ISLAMABAD – Petroleum Oil Lubricants (POL) prices in Pakistan to reduce significantly, it has been reported.

It had been reported that petrol and diesel prices are expected to drop to record low this year after a decline in international market by $50.

Following this decline, petrol and diesel prices are likely to decline by Rs 4 in Pakistan.

Oil edged up to $51 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an OPEC-led effort to tighten supply.

Crude has been caught up in wider financial market weakness as the U.S. government shutdown, higher U.S. interest rates and the U.S.-China trade dispute unnerved investors and exacerbated worries over global growth.