ISLAMABAD – Petroleum Oil Lubricants (POL) prices in Pakistan to reducesignificantly, it has been reported.
It had been reported that petrol and diesel prices are expected to drop torecord low this year after a decline in international market by $50.
Following this decline, petrol and diesel prices are likely to decline byRs 4 in Pakistan.
Oil edged up to $51 a barrel on Wednesday after reaching its lowest sinceJune 2017 on perceptions that a price slide prompted by worries over theglobal economy had been overdone amid an OPEC-led effort to tighten supply.
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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 tradedispute unnerved investors and exacerbated worries over global growth.
